Category: Local Economy
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Business Community urges govt to introduce tax relief measures in mid-year budget review
Stakeholders in the business community are urging the government to introduce tax relief measures in the upcoming mid-year budget review. According to Section 28 of the Public Financial Management Act, 2016 (PFMA) Act 921, the Finance Minister, Ken Ofori-Atta, is required by law to present the mid-year budget review to Parliament “not later than six…
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Consider tax on plastics to raise revenue – Tax consultant to gov’t
Now as government struggles to raise revenue to support the country’s economic slowdown some tax analysts want government to turn attention to taxation on single use plastics. This they believe will help in Ghana’s revenue generation while protecting the environment. In recent times, there has been a strong push for policy instruments to drive responsible…
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2023 Citi FM/Citi TV ‘This is Ghana Exhibition’ slated for August 26-27
Ghana’s biggest trade exhibition, ‘This is Ghana Exhibition’ organized by Citi FM and Citi TV returns again this August. Hundreds of exhibitors are expected at the annual two-day fair. The 2023 edition has been scheduled for August 26 and August 27 and will be held at the forecourt of the Accra Metropolitan Assembly. The exhibition…
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Coalition of Individual Bondholders Groups to picket at Finance Ministry over unpaid bonds
The Coalition of Individual Bondholders Groups has notified government that members of the group will picket the Ministry of Finance from July 6 to demand payments of their bonds. The picketing will continue until their grievances are addressed by the relevant authorities. The Coalition, which is made up of the Individual Bondholders Association of Ghana…
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IMF conditionalities not preventing energy sector leakages – ACEP
The Africa Centre for Energy Policy (ACEP) has disclosed that the conditionalities of the International Monetary Fund are not helping curb the revenue leakages in the country’s energy sector. In a report dubbed, ‘Protecting Ghana’s Economic Sustainability in the Face of Power Sector Risks,’ the energy think tank said the already implemented conditionalities are not…
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Cedi classified among ‘worst spot returns’ in Africa – Bloomberg
Ghana’s local currency -the cedi has been classified among Africans currencies with the ‘worst Spot Returns. This is according to a Bloomberg report. On the World Currency Ranker the cedis performance placed 17th, depreciating by 11.21 percent. According to Bloomberg although the cedi lost about 11.21% to the US dollar in the first quarter of…
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GSA holds Exporters Forum to expose importers to trade agreements
As part of efforts to accelerate economic growth and drive foreign exchange, the Ghana Shippers’ Authority (GSA) has held an Exporters Forum to abreast importers and exporters on some of the country’s trade agreements and how they can position themselves to take advantage of it. The forum which was under the theme; ‘Facilitating Shipment under…
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GSS pushes for diversification of the local economy
The Ghana Statistical Service (GSS) is pushing for the transformation of the local economy from one driven by micro and small industries to one that is largely supported by a diversification in the medium and large scales industries. According to the Service, this will give a boost to the economy and ensure the growth of…
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Mid-year budget review slated for July 27
Finance Minister, Ken Ofori-Atta is expected to present the Mid-Year Budget review to Parliament on Thursday, July 27, 2023. This is in accordance with Section (28) of the Public Financial Management Act, 2016 (PFMA) Act 921 which requires that the finance minister presents a Mid-Year Review to parliament six months after the presentation of the…
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Govt yet to engage IPPs over debts as power crisis looms
With just a day to the expiration of the deadline given by the Independent Power Producers to shut down over outstanding arrears, the group is yet to meet government for a favorable response. The two parties were expected to meet this week for an agreement on demands for a 30 percent interim payment of the…