Tag: 2017 budget
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Govt may miss 2017 budget target over low expenditure – IFS
The Institute for Fiscal Studies (IFS) has cautioned that government will miss its 2017 budget target should it fail to spend in critical sectors of the economy. The IFS argues that government’s refusal to pay valid arrears and invest in infrastructural development for the first half of this year has impacted heavily on economic growth.…
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Parliament to pass Bill to cap statutory funds at 25%
Parliament is today (Tuesday) expected to pass the bill that will allow the government to cap its budgetary allocation to statutory funds at twenty-five percent. The bill, on Monday, March 27th, passed the consideration stage. When passed, all allocations to the eight statutory funds will not exceed twenty-five percent of all government revenue for this…
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Tax cuts, job creation top expectations of 2017 budget
Pending the budget presentation by the Finance Minister Ken Ofori Atta today, industry players and business associations have reiterated calls for the solutions to their numerous needs to be captured in the budget. The budget, the first for the NPP government, is expected to capture how the government intends to allocate its resources for the…
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NDC failed to account for GH¢7bn expenditure – Bawumia
The Vice President, Dr Mahamudu Bawumia has expressed shock at a seven billion (GHؓ¢7,000,000,000) cedi hole in government’s accounts left by the immediate past administration. “In preparing for the budget we realized to our shock that expenditure amounting seven billion cedis was made by the previous government but never disclosed,” he stated. According to the…
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New regions to cause budget distortions if … – Economist warns
Economist Dr. Joe Amoako -Tuffour has cautioned Finance Minister Nominee, Ken Ofori Atta on the need to find sustainable funding for the proposed new regions to be created by the NPP government. He contends the country risks huge financial challenges should government fail to align its revenue with expenditure with the additional regions. “…The rising fixed…
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GH¢2bn deficit is blow to economy – Economist
Economist, Dr. Lord Mensah has criticized the almost 2 billion cedis budget deficit in the advance expenditure appropriation presented by the Minister of Finance, Seth Terkper. Parliament, on Thursday, October 20, approved the 10.99 billion cedis request by the Finance Minister. This also came after several deliberations both at the Finance Committee level and on…
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Parliament approves 10.9 bn cedis for 2017 first quarter
Parliament has approved a GHc 10.9 billion request by the Minister of Finance, Seth Terkper to help finance “critical government expenditure” in the first quarter of 2017. The approval was concluded Thursday evening after almost an hour of deliberations on the floor of the House after the Finance Committee forwarded the request after earlier scrutiny at…
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Terkper meets Parliament over advanced 2017 expenditure
The Finance Minister, Seth Terkper is currently engaged in a meeting with Parliament’s Committee on Finance over the Advanced Appropriation Bill presented to Parliament a while ago. Contrary to the expectations of many, Mr. Terkper did not present the details on the floor of the House as the Bill was referred to the Finance Committee…
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Finance Minister presents 2017 1st quarter budget Thursday
The Minister of Finance, Seth Terkper, is expected to present to Parliament next week Thursday, an Advanced Budget; covering government spending for the first quarter of 2017. The statement will detail the projected revenue and expenditure between January and March next year. This practice is in accordance with what the Executive does almost every election…