Author: Edna Agnes Boakye
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Two-thirds of Ghana’s unemployed population are women – GSS Report
The 2022 Annual Household Income and Expenditure Survey Third Quarter Labour Statistics Report launched in Accra today has revealed that two out of every three unemployed persons in the country are females. The Government Statistician, Professor Samuel Kobina Annim, emphasized that the high rates of female unemployment were not solely due to their gender. Professor…
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Ghana Digital Acceleration Project: Parliament approves $200M loan
Parliament has approved a loan agreement between the government and the World Bank for an amount of $200 million to finance the Ghana Digital Acceleration Project. The house also approved an amount of one hundred and fifty million dollars $150 million for the financing of the West Africa Food System Resilience Programme phase 2 under…
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Ghana’s current account deficit to narrow to 1.9% in 2023 – EIU predicts
Economist Intelligence Unit predicts Ghana’s current account deficit to narrow to 1.9% of GDP in 2023 and further to 1.1% in 2024 due to a decrease in fuel import prices and strict import regulations. However, the deficit is expected to widen to 2.7% in 2027 as the primary income deficit grows. “Although export earnings from…
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Fuel prices may remain unchanged despite cedi depreciation – IES
Despite the reduction in global prices of finished petroleum products, the prices of such products in Ghana may remain unchanged for the next two weeks. This is due to the recent decline in the value of the Ghana cedi against the US dollar, which may offset the expected reduction in fuel prices. The Institute for…
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Inflation to end 2023 at an average 38.1% – EIU
The Economist Intelligence Unit (EIU) predicts that despite a slowdown in monthly inflation over most of the period, inflation will average 38.1% by the end of the year. This is due to upward domestic price pressures, including the introduction of new taxes such as the Value Added Tax (VAT) rate and excise duties, as well…
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GRA to begin implementing 3 new taxes today
The Ghana Revenue Authority (GRA) will from today implement the new and revised taxes, which were introduced in the 2023 Budget, will be May 1, 2023. The GRA issued a notice stating that businesses have had sufficient time to configure their systems for the taxes since the laws were passed. The new and revised taxes…
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Ghana’s economic growth to suffer slowdown in 2023 – EIU warns
The Economist Intelligence Unit predicts that Ghana’s GDP growth rate will drastically slow to 1.3% in 2023, due to rising prices and monetary tightening leading to a contraction in domestic demand. This is lower than the projections of the World Bank and the International Monetary Fund. The slowdown will result in reduced consumption and sustained…
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ECOWAS reappoints Dr. George Donkor as President for second term
The Board of Governors of the ECOWAS Bank for Investment and Development (EBID), comprising the Ministers of Finance and / or Economic Planning of the fifteen ECOWAS member states, has unanimously re-appointed Dr George Agyekum Nana Donkor as President of the Bank for the second term of five years beginning February 1, 2024. The appointment…
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Cocoa sector not collapsing – COCOBOD rejects Mahama’s claims
The Ghana Cocoa Board (COCOBOD) has refuted former President John Dramani Mahama’s claim that Ghana’s cocoa sector has collapsed. Former president Mahama while addressing party supporters and branch executives in the Western North Region on a campaign tour on Tuesday, April 25 said the cocoa sector is on the verge of collapse under Akufo-Addo’s government. But COCOBOD…
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GRA set to implement 3 new taxes on May 1
The Ghana Revenue Authority (GRA) has announced that the implementation date for the new and revised taxes, which were introduced in the 2023 Budget, will be May 1, 2023. The GRA issued a notice stating that businesses have had sufficient time to configure their systems for the taxes since the laws were passed. The new…