Tag: Finance Minister
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Parliament approves government’s GHS11.8bn Supplementary budget
Parliament has approved government’s request for 11.8 billion Ghana cedis in supplementary estimates for the 2020 financial year. The request was tabled before the House last week Thursday by the Finance Minister, Ken Ofori-Atta. Government says the amount is needed to support its expenditure for the rest of the year particularly due to the economic…
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Gov’t requests GHS11.8bn supplementary budget amid COVID-19 threats
The Minister of Finance, Ken Ofori-Atta, has tabled a request from government to Parliament for a supplementary budge of 11. 8 billion Ghana cedis to support government’s expenditure for the rest of the year. The request is to assist government implement various initiatives to strengthen various sectors of the economy due to the revenue shortfalls…
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Finance Minister to present Mid-year budget review on July 23
The Finance Minister, Ken Ofori-Atta, is scheduled to present the mid-year budget review to parliament on Thursday 23rd July, 2020. This is in accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921). According to Citi Business News sources, the presentation of the statement on the review of government projections for the…
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Finance Minister to present policy statement on COVID-19 fight in parliament
The Finance Minister will on Wednesday, April 8, present a policy statement in Parliament on government’s measures to curtail the spread of the novel coronavirus pandemic as the House resumes sitting. This was announced by the Speaker of Parliament, Prof. Aaron Mike Oquaye, in a statement. The Speaker also recalled MPs after the suspension of…
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Gov’t to raise GH¢17.96bn in bonds from domestic market for second quarter
Government is seeking to raise a total of 17.96 billion cedis in bonds, from the domestic market for the period spanning April to June, 2020. This is about 6% less than the 19.09 billion cedis targeted for the first quarter of 2020, from January to March. Per the issuance calendar published by the Bank of…
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Gov’t engages telcos to reduce cost of data over COVID-19 impact
The Finance Minister, Ken Ofori-Atta, says as part of several fiscal measures to mitigate the impact of the coronavirus pandemic, government is engaging telcos operating in the country to reduce the cost of data. According to the CEO of MTN Ghana, Selorm Adadevor, data usage in Ghana has generally increased by due to the impact…
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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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Gov’t requests to use part of Heritage Fund for COVID-19 fight
The Finance Minister, Ken Ofori-Atta, is calling for the amendment of the Petroleum Revenue Management Act (PRMA) to allow government to utilize portions of the Ghana Heritage Fund to deal with the Coronavirus pandemic. The Heritage Fund is a creation of section 10 of the Petroleum Revenue Management Act 815 enacted in 2011. The purpose…
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Printing of GHS100 and GHS200 denominations cost $8.97m – Finance Minister
It has emerged that government spent 8.97 million US dollars in printing the new 100 and 200 Ghana cedi notes. The new notes also came with a new GHS2:00 coin. The revelation was made on the floor of Parliament by the Finance Minister, Ken Ofori-Atta, during a response to a question on how much was…
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Prioritize renegotiation of take or pay contracts– Energy Expert to new Committee
Energy sector analyst and Executive Director of the Kumasi Institute of Technology, Energy and Environment (KITE) Ishmael Edjekumhene says it is critical that the newly established Energy Sector Recovery Programme Steering Committee negotiates a change of the existing take or pay contracts in the energy sector. According to him, when this is done, it will…