Tag: Finance Minister
-
Ghana needs US$10billion annually to meet infrastructure demand — Ofori-Atta
The government will need up to US$10 billion a year to achieve its infrastructure demand. Finance Minister, Ken Ofori-Atta told the press after the African Caucus Meeting held in Accra. According to him, although Ghana’s debt keeps rising like other African countries, borrowing still remains an alternative for raising funds for development. “The problem is…
-
Gov’t to make Accra a Financial Services Hub
Finance Minister Ken Ofori-Atta has disclosed that government is planning to make Accra a financial hub to attract major banks in West Africa to site their headquarters in Ghana. Currently, the African Development Bank has its headquarters in Abidjan, Ivory Coast, while Ecobank has its headquarters in Lome, Togo. Speaking at a ceremony to showcase…
-
Government pays close to GHS300m judgement debt since 2017
The Government of Ghana has paid over GHS283 million in judgment debts since January 2017. This is according to an answer cited in the order paper of Parliament from the Finance Minister in response to a question filed by MP for Mion, Abdul Aziz Mohammed. “Government continues to pay several millions of cedis in judgment…
-
Ofori-Atta to present mid-year budget review on July 24
The Finance Minister Ken Ofori-Atta is expected to present the government’s supplementary budget statement to Parliament on July 24. The presentation was earlier scheduled to be made on July 17 but has now been pushed a week ahead. The Public Financial Management Act, 2016 (PFMA) Act-921, requires that the Finance Minister presents a Mid-Year Review…
-
Mid –Year Budget review to focus on domestic revenue mobilization—Finance Minister
The Finance Minister, Ken Ofori-Atta has disclosed that the mid-year budget review which will be presented to parliament later this month will focus on improving domestic revenue mobilization Already, the Finance Minister has hinted that government will review the Luxury vehicle Tax in the mid-year budget. Speaking at a press conference Mr. Ofori-Atta explained that…
-
Ghana adds 21.4 billion cedis to debt stock in three months
Data released by the Bank of Ghana (BoG) has shown that the country’s total debt stock increased by 21. 4 billion cedis in the first quarter of this year. This means that Ghana added 21.4 billion cedis to its debt stock between January and March this year. According to the data, Ghana’s total debt now…
-
Gov’t misses 2018 half year revenue target
Finance Minister, Ken Ofori-Atta has disclosed that government missed its revenue target by 1.4 billion cedis for the first five months of the year. According to Mr. Ofori-Atta, the development has called for a revision to the fiscal framework and outlook to achieve the government’s fiscal objectives and targets. According to the finance minister, government…
-
Business registration to reduce to four days
Government has stated its plans to reduce the registration period of businesses from two weeks to four days. The move is aimed at reducing the cost of doing business in Ghana. Currently, people who wish to register their business go through a stressful sixteen day period or more to complete the process. This also contributed…
-
Reduce tariffs to save industries – GCCI to Ken Ofori Atta
The Ghana Chamber of Commerce and Industry (GCCI) wants the Finance Minister Nominee, Ken Ofori Atta, to fulfill his promise to halt any immediate increase in utility and fuel prices upon assuming office officially. The Chamber contends that the move if implemented, will ultimately save the businesses of its members from further collapse. Ken Ofori…