Tag: fiscal deficit
-
Invest borrowed money into productive activities – Prof. Quartey to government
As the discussion around the International Monetary Fund’s (IMF) classification of Ghana as a low income developing country continues, the Head of the Institute for Statistical, Social and Economic Research (ISSER), Professor Peter Quartey has called on the government to focus on building a resilient economy that will thrive after the COVID-19 pandemic is dealt…
-
Robust collection needed to achieve 2020 revenue targets – IFS
The Institute for Fiscal Studies (IFS), says the Finance Minister would have to do more to achieve what it describes as an ambitious revenue target for 2020. The government in its 2020 budget is seeking to raise 67.1 billion cedis in revenue against an expenditure target of about 86 billion cedis. This means the government…
-
Gov’t checks overspending with Fiscal Responsibility Act
The government will soon introduce a Fiscal Responsibility Act, which will ensure successive governments do not spend beyond specific fiscal thresholds. Senior Minister, Yaw Osafo Maafo, announced this at the 2018 edition of the Ghana Economic Forum on the theme, “Building a competitive economy for sustainable growth.” He also said government will establish a Fiscal…
-
High fiscal deficit unattractive for long term bonds – Razia Khan
Government would have to work to reduce its fiscal deficit in the short to medium term else risk investment ditching its long term bonds. This is the caution from the Chief Economist for Africa Global Research at Standard Chartered Bank, Razia Khan. According to her, the government would need to readjust its debt management strategy…
-
IMF extension likely to affect disbursements
Ghana risks a likely delay in the disbursement of funds from the International Monetary Fund from this year, following plans to extend the deal. This is the caution from Economist, Dr. Eric Osei Assibey. According to him, the Fund will grant the request upon satisfying itself of the government’s ability to meet set targets. “I…
-
Fiscal deficit to hit 6.2 percent in 2016 – Economist
Some economists have predicted that Ghana will end this year (2016), with a budget deficit of 6 percent to GDP. They contend that the increased expenditure by government without an equal increase in revenue will cause a distortion to government’s budget deficit target for the year. “Per the projections, we are supposed to end the…
-
Ghana’s debt to GDP to hit 70% mark if… – Economist
Ghana’s debt to GDP ratio could hit the 70 percent threshold if the base rate for calculating the figure, is adjusted to reflect current growth targets. This is the indication from economist, Dr. Eric Osei Assibey. Crossing the 70 percent mark is also likely to affect Ghana’s international credit rating. “The projection was about 4.9…
-
BoG courts investor confidence with fiscal discipline
The Bank of Ghana has assured investors of its resolve to contain fiscal pressures that may arise as the country prepares for this year’s general elections. According to the central bank, its commitment is to attract investments and propel economic growth. Commenting on the central bank’s resolve, the First Deputy Governor of the Bank of…