Tag: Fiscal consolidation
-
20% quarterly expenditure ceiling will enhance credibility of 2022 budget – Economist
Economist Courage Martey has stated that the government’s move to reduce the quarterly expenditure ceilings across the board for all covered entities benefiting from the 2022 Budget by 20% beginning 2022 quarter one, will enhance the credibility of the 2022 budget. The Minister of Finance, Ken Ofori-Atta, earlier this month announced that, in a prudent…
-
Government cuts down its expenditure by 20%
The Finance Ministry has revealed that Government has suspended 20 percent of expenditure in the 2022 budget. According to the Ministry, though Parliament has already approved government’s total expenditure for 2022, in a prudent fiscal consolidation move, government has decided to cut down its expenditure, by up to 20 percent. Speaking at a press conference…
-
Use 2022 budget to reduce revenue and expenditure gap – Government urged
Government has been urged to use the 2022 budget statement and economic policy to reduce the gap between revenue and expenditure. The 2021 budget had a total revenue target of GH¢ 72.45 billion, while expenditure was set at GH¢ 113.75 billion, bringing the overall balance to GH¢ 41.298 billion. According to the 2021 mid-year budget…
-
Poor fiscal consolidation contributing to high interest rates – Dr. Addison
Governor of the Bank of Ghana, Dr. Ernest Addison has highlighted the country’s poor fiscal position as one of the reasons for the high lending rates in Ghana. According to him, among other things, the disparity in the country’s revenue and expenditure forces government to borrow from banks, leading to a crowding out of the…
-
Returning economy to path of fiscal consolidation critical – BoG Governor
Governor of the Bank of Ghana, Dr. Ernest Addison has reiterated the need for government to develop a new medium-term macroeconomic framework to return the economy unto a path of fiscal consolidation. The Governor had earlier on raised questions about the sustainability of the implementation of COVID-19 related interventions meant to cushion Ghanaians and businesses…