Tag: budget deficit
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Any additional borrowing to finance expenditure risky for economy – Adu Sarkodie
An Economist, Dr. Adu Owusu Sarkodie, says the Finance Minister, Ken Ofori-Atta should be able to outline the progress made so far with the allocation of support under the government’s Coronavirus Alleviation Programme when he presents the Mid-year budget review to Parliament later this month. Dr. Sarkodie says limiting budgetary allocation is critical, since an…
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Prof. Quartey backs BoG’s GH¢10bn financing for government’s 2020 budget
Economist, Prof. Peter Quartey, has backed the Bank of Ghana’s decision to support government’s budget to cushion the economy from the adverse impact of COVID-19. The central bank has indicated that it is supporting the Ghanaian economy with ten billion cedis to bridge the budget deficit caused by the global pandemic. The Governor of the…
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Gov’t hints at new budget by July as COVID-19 hits revenue target
Finance Minister, Ken Ofori-Atta, has hinted that government may present a new budget to Parliament by July this year due to the economic impact of the COVID-19 Pandemic that has hit government’s revenue target. The 2020 financial budget was targeted at expanding infrastructure, particularly roads. But the Finance Minister announced in Parliament on Monday that…
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2020 Budget: Roads expenditure could lead to budget overruns – ISSER
The Institute of Statistical, Social and Economic Research, ISSER, says the government’s description of 2020 as a year of roads is worrying, as this could lead to a huge budget deficit. Finance Minister Ken Ofori-Atta, during the 2020 budget presentation to Parliament, announced that government is going to channel resources to fix many of the…
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4.7 percent budget deficit will be difficult to achieve — Prof. Quartey
Director of the Institute of Statistical, Social And Economic Research (ISSER) of the University of Ghana, Prof. Peter Quartey has cast doubts on the government’s ability to achieve its budget deficit target set for the 2020 election year. The Finance Minister in the presentation of the government’s 2020 budget statement had reiterated the commitment to…
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Control expenditure to achieve budget deficit target – Databank CEO tells gov’t
Group Chief Executive Officer at Databank Kojo Addae-Mensah says government’s ability to hold its overall budget deficit to a maximum of 4.5 percent, will depend on a number of factors especially on how the government is able to control its expenditure levels. The Institute for Fiscal Studies (IFS) has already warned that government may record…
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IFS warns real budget deficit may exceed 5% by end of 2019
The Institute for Fiscal Studies (IFS) is warning that government may record a real budget deficit of more than 5 percent of GDP if government does not reduce its appetite for borrowing. According to the IFS, even though government has outlined measures not to overspend, the trend rather shows that government is borrowing outside its…
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EIU predicts government will overspend its budget in 2020
The Economist Intelligence Unit (EIU) is predicting that the government will struggle to lower its expenditure in the run-up to the 2020 general elections. Despite government passing the Fiscal Responsibility Act last year aiming to limit future budget deficits to a maximum of 5% of GDP, the London-based business advisory firm expects the government to…
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No supplementary budget risky for 2017 budget – Economist
Some Economists want the Finance Minister, Ken Ofori Atta, to give detailed plans of increasing revenue even as he presents a midyear budget review to Parliament today. It comes on the back of a decision by the Ministry not to seek a supplementary budget. For Economist, Dr. Said Boakye, the government’s inability to meet the…
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NPP to miss budget deficit target if … – Terkper
Former Finance minister, Seth Terkper has predicted that the NPP government will miss its budget deficit target for this year. He argues that the government’s efforts to ensure tax compliance and cut down some expenditure may yield little impact on the economic prospects. Mr. Terkper’s arguments are contained in an article where he impresses on…