Category: Economy
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Vetting of Ken Ofori-Atta enters day two today
A little over two weeks after he was originally scheduled to be vetted, Finance Minister-designate, Mr. Ken Ofori-Atta finally took his turn before the Appointments Committee of Parliament on Thursday, March 25, 2021. Mr. Ofori-Atta, whose vetting will continue today is the only nominee left on the list of ministers that President Akufo-Addo presented to…
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BoG maintains policy rate for 6th time over short-term inflationary pressures
The Monetary Policy Committee of the Bank of Ghana after meeting last week and reviewing recent global and domestic developments, including the outlook for the Ghanaian economy has decided to maintain the policy rate for the 6th consecutive time at 14.5 percent. The maintenance of the policy rate which is of keen interest to businesses,…
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Policy rate likely to be maintained for 6th time over high inflation – Economists
The Bank of Ghana is likely to announce a stay of the Monetary Policy Rate for a 6th consecutive time later today, Monday, March 22, 2021. This assertion was made by some economists who have been sharing their view on Ghana’s economic outlook with Citi Business News. The rate which is of keen interest to…
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Consider NDC’s economic proposals to reverse declining GDP – Terkper to gov’t
Former Finance Minister, Seth Terkper, is asking the government to go back to some of the proposals that the New Democratic Congress (NDC) government put in place to salvage the negative growth of the country’s Gross Domestic Product (GDP). Ghana’s debt stock, according to the caretaker Finance Minister, Osei Kyei-Mensah-Bonsu stands at GHS291.6 billion, representing…
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Ghana on right trajectory with COVID-19-induced taxes – Adu Boahen
The President’s Representative at the Finance Ministry, Charles Adu-Boahen has justified the proposals for new taxes saying the move is to sustain the debts incurred by the government through the various COVID-19 interventions initiated by the Presidency. He said the only way Ghana will not be caught in a debt trap following shortfalls in revenues…
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Seth Terkper bemoans Ghana’s revenue performance
Former Finance Minister, Seth Terkper has once again bemoaned the country’s debt collection methods as well as its revenue performance in recent years. This, according to him, can partly be blamed on non-response to the rebasing of the country’s GDP. He made these assertions in a post-budget dialogue organized by Citi TV and the University…
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Increased manufacturing pushes PPI for February to over 10%, highest in 12 months
The average price of goods and services received by domestic producers in the country for their production activities, in the month of February went up by 10.3 percent, when compared with the prices received by the producers in February of last year. The increase in prices which brings the producer price inflation rate for February…
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Ken Ofori-Atta justifies proposed new taxes
The Finance Minister-designate, Ken Ofori-Atta, has justified the proposed new taxes in the 2021 budget. Osei Kyei-Mensah-Bonsu, the caretaker Finance Minister, while delivering this year’s budget statement announced moves to impose taxes on fuel, i.e. 10 pesewas per litre for diesel and petrol as Sanitation and Pollution Levy (SPL) and 20 pesewas per litre of…
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Blame recent fuel hikes on rise in world prices not new taxes – OMCs
The Association of Oil Marketing Companies (AOMC) has attributed the latest increases in prices of petroleum products to the prices and forces of demand and supply on the world market. In a statement to clarify issues on the back of the government’s newly proposed petroleum levies, the OMCs said the upward adjustment of the fuel…
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Passage of Tax Exemptions Bill will boost revenue mobilization – Stakeholders
Some stakeholders have reiterated the need for Government to fast-track the passage of the Tax Exemptions Bill to ensure monies lost to tax exemptions are mopped-up to aid government’s revenue mobilization. Many have described the new revenue targets, especially, the non-oil tax revenue of GHC 53.6 billion, as high considering the marginal increases in revenue…