Category: Top Stories
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![2022 mid-year budget review [Full speech]](https://citibusinessnews.com/wp-content/uploads/2022/07/ofori-atta-in-parliament.jpg)
2022 mid-year budget review [Full speech]
The Finance Minister, Ken Ofori-Atta has presented the 2022 Mid-Year Budget Review to Parliament for approval. The review, which did not see a request for new funds, noted the current macroeconomic figures that have suffered in recent times. It also announced a return of road tolls on the Tema-Accra Motorway in the future and the…
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Bank of Ghana maintains policy rate at 19%
In its quest to ensure macroeconomic stability, the Monetary Policy Committee of the Bank of Ghana has maintained the policy rate at 19 percent. This is the first time the Central Bank has maintained the policy rate this year, after increasing it twice by 200 basis points or more. The rate, which is of keen…
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Mid-year budget: Gov’t urged to cut down expenditure to align revenue targets
Economist, Courage Boti, is calling on government to cut down what he calls excess expenditure to align its revenue targets with its expenditure as the country seeks an IMF bailout. This forms part of issues he expects to be addressed in the upcoming mid-year budget review presentation on Monday. Ahead of the presentation, many stakeholders…
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Cedi depreciation pushes Ghana’s debt to over GH¢390 bn in June; 78.3% of GDP
Latest data released by the Bank of Ghana puts Ghana’s total public debt stock as at June 2022, at USS 54.4 billion or GH¢393.4 billion. In Dollar terms, the debt dropped by about $4 billion in the first 6 months of the year, from $58.6. billion in December 2021 to $54.4 billion at half year,…
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Finance Minister Ken Ofori Atta likely to lose job as minority in parliament seek vote of censure
The Finance Minister, Ken Ofori Atta, risks losing his job as the Minority caucus in parliament is gathering signatures to kick start a vote of censure proceedings against him. The move seeks to invoke article 82 of the constitution which provides the procedure of removing a Minister of State through proceedings in parliament. The finance…
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AGI calls for proper implementation of gov’t policies to check inflation
The Association of Ghana Industries (AGI) has bemoaned the lack of effective implementation of key government policies and their impact on the operations of businesses in the country. Citing the deregulation policy and fertilizer subsidy program as examples, the Association believes the government needs to sit up so the key policies can achieve their intended…
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Establishment of ORC will further boost ease of doing business – Akufo-Addo
Government’s efforts to create an enabling environment for businesses to thrive has been augmented by the establishment of the Office of the Registrar of Companies, ORC. This is according to President Akufo-Addo. Speaking at the launch of the newly established Office of the Registrar of Companies (ORC) in Accra, President Akufo – Addo said the…
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SIM card registration exercise will not be extended again – Ursula Owusu-Ekuful
The Minister for Communications and Digitalization, Ursula Owusu-Ekuful has warned that the deadline for the registration of SIM cards in Ghana, will not be extended for a second time. The exercise which began on 1st October, 2021, was originally scheduled to end on 31st March, 2022, was extended by the sector Ministry to 31st July,…
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Mohinani Group to open first bottle-bottle PET plant in Ghana
Parent company of Poly Tanks (Gh) Ltd, Mohinani Group, is set to invest over $16 million to open Ghana’s first bottle to bottle recycling plant to supply food grade rPET (recycled polyethylene terephthalate) of European standards. According to the Group, the investment is in line with the company’s commitment to meet both the Group and…
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Producer Price Inflation rises again by 4.7% to hit 38% in June
Producer Price Inflation continues to go up as latest data from the Ghana Statistical Service indicates that the average cost of inputs received by domestic producers for the production of their goods and services for the month of June rose by 38 percent. This rate indicates that between June 2021 and June 2022 (year-on-year), the…