Tag: Ghana Business
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Expresso workers head to NCA over salary arrears
Workers of Telecommunication Company, Expresso, have disclosed to Citi Business News they will file an official complaint with the National Communications Authority (NCA) over the failure of the telecom company to pay them salaries owned them. According to the workers, the non-payment of their salaries for over 2 years has compelled them to make the…
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IFS renews pressure to hedge Ghana’s oil
The Institute of Fiscal Studies (IFS), has made fresh calls for Ghana to hedge its oil to protect the country from shocks in the global price of crude. The Institute is warning the country risks missing out on its 7 percent growth target for 2017 should prevailing conditions on the global oil market persist. “We…
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Govt to roll out fiscal stability Act by end of 2017
Finance Minister Nominee, Ken Ofori Atta has disclosed to Citi Business News government should commence the implementation of the fiscal stability and fiscal responsibility act by the end of this year. The Act when completed should help the government reduce its borrowing and debt. He made the revelation in an interview with Citi Business News…
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Economist predicts single digit inflation in the medium term
Economist Professor Godfred Bokpin has predicted of a drop in inflation to single digits in the short to medium term. It follows what he describes as weak volatilities with the main price drivers of inflation such as utility prices and transport fares. “As a result the major drivers do not exhibit higher volatility going forward…
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Govt to issue 17.4 billion cedis in debt securities
Government will in the first quarter of 2017, borrow 17,400.00 million cedis through bonds and treasury bills and other government securities. The cash will be used rollover forecast maturities, meet Government’s financing requirements and build buffers for liability management. Of this 15,504.43 million cedis will be used to rollover forecast maturities and the remaining 1,895.57…
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Reducing taxes will require more time – Ken Ofori Atta
Finance Minister Nominee, Ken Ofori Atta has told Citi Business News government will have to undertake a careful analysis of its tax cuts promise before it implements it anytime soon. According to him, modalities for implementing the NPP’s promise to cut down taxes will largely be outlined in the 2017 budget. “The tax cuts will…
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Kumasi bound passengers stranded over Asantehemaa’s funeral
VVIP bus drivers who ply the Accra-Kumasi route have ditched their work following the low patronage of their service from Kumasi to Accra. The low patronage has been attributed to the ongoing funeral of the late Asantehemaa which commenced today. The development has left scores of passengers at the VVIP bus stations in Accra heading…
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Change in gov’t not to affect MPC decision – Prof. Bokpin
Economists have ruled out any significant impact of the change in government on the operations of the Monetary Policy Committee of the Bank of Ghana. It follows the commencement of the MPC’s first regular meeting for 2017 on Monday January 16th, 2017. Per the regulations governing the Central Bank, the Governor of the central bank…
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Tax cuts should be replaced with pragmatic revenue sources – Analyst
Government must find alternative means to impose new taxes or increase compliance rate if it is to achieve targets on tax cuts. This is the suggestion from tax consultant, William Owusu Demetia. “Government has two options; it has to either find another item that has not previously been taxed to impose the taxes on or…
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New regions to cause budget distortions if … – Economist warns
Economist Dr. Joe Amoako -Tuffour has cautioned Finance Minister Nominee, Ken Ofori Atta on the need to find sustainable funding for the proposed new regions to be created by the NPP government. He contends the country risks huge financial challenges should government fail to align its revenue with expenditure with the additional regions. “…The rising fixed…