Category: Local Economy
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Don’t introduce new direct taxes – Ashanti Regional GUTA to government
Ahead of the 2021 budget statement to be presented in Parliament, the Ashanti Regional branch of the Ghana Union of Traders Association, GUTA is urging government not to introduce new direct taxes that have the potential of affecting their businesses. In order to relieve them of the harsh impact of the coronavirus pandemic, GUTA wants…
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36 African countries have ratified free trade agreement – AfCFTA Secretariat
36 out of 55 countries on the African Continent have deposited their instrument of ratification with the African Continental Free Trade Agreement (AfCFTA). This means these countries have legally accepted to open their markets, reduce barrieriers to trade and adhere to the rules of AfCFTA. The African Continental Free Trade Agreement (AfCFTA) is projected to…
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Ghanaians share their expectations ahead of budget reading
Government had big plans for the 2020 fiscal year when it delivered the budget in November 2019. The fiscal year was tagged the ‘Year of roads’. This was an indication of how heavy it was going to be on infrastructure, particularly roads. However, the emergence of COVID-19 in 2020 greatly affected government’s revenue and expenditure.…
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We expect clear policies for fisheries sector in 2021 budget – Tuna Association
The Ghana Tuna Association says it expects a detailed policy for the fisheries sector from the government ahead of the 2021 budget presentation on Friday, March 12, 2021. According to the association, the sector has not been given the required attention despite being a major non-traditional export earner for the country. Speaking to Citi Business…
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GUTA reiterates calls for affordable credit facilities ahead of 2021 budget reading
The Ghana Union of Traders Association (GUTA) has reiterated calls for affordable credit facilities. GUTA says as part of the budget reading on Friday, the trading community is hoping to have this among other concerns addressed. The budget will be laid in Parliament on Friday, March 12, 2021, by the Majority Leader and Parliamentary Affairs…
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Registrar General to meet clients of six defunct FMCs virtually on Thursday
The Registrar General, Jemima Oware, is set to have a meeting with customers of some six defunct fund management companies on Thursday, March 11, 2021. The meeting which is the first for this year will be held virtually. Dubbed Virtual First Creditors meeting, the session will be from 9:00 am to 3:30 pm on the…
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President’s 5% GDP growth rate projection realistic – Economist
Economist with DataBank, Courage Martey says the President’s announcement of GDP growth rebounding to nearly 5 percent in 2021 is not far-fetched. President Nana Akufo – Addo in his first State of the Nations Address for his second term in office, expressed confidence in the ability of government’s One Hundred Billion Cedi Ghana CARES Obantampa…
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Cabinet approves establishment of National Flag Carrier
Ghana’s aviation industry is set to witness a major boost as Cabinet has given approval for the establishment of a National Flag Carrier. This is according to the President, Nana Addo Dankwa Akufo-Addo. This comes after many years of working to revive the national airline by successive governments. Addressing Parliament on Tuesday, March 9, during…
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2021 budget: Government to raise US$5 billion from ICM funding program
Government has begun processes to raise an amount of US$5 billion to “support growth-oriented expenditures” in the 2021 budget for this year. This comes after an earlier consideration to launch a 2021 International Capital Market (ICM) funding programme for the medium term in order to raise this amount of money. The ICM Programme instruments consist…
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Economy to rebound strongly as GDP growth nears 5% – Akufo-Addo
President Akufo-Addo says Ghana is expected to have a GDP growth rate of about 5 percent following a year affected by the COVID-19 pandemic. Speaking during his State of the Nation address, President Akufo-Addo said this growth rate would beat observer projections. This is in line with the 4.9 percent growth projection made by the…