Tag: GHBudget
-
Gov’t to annul take or pay power agreements; targets saving GH¢2.5bn annually
The Finance Minister Ken Ofori-Atta has indicated that government will from August 1, 2019, cancel all existing power purchasing agreements which require the government to pay for power even if it is not consumed. According to the Finance Minister, such arrangements largely signed under the previous government costs the government more US$500 million in power…
-
#GHBudget: Consolidated Bank releases GH¢530 million for cocoa roads
The Consolidated Bank Ghana has released a total of GH¢530 million to Cocobod for the construction of cocoa roads, the Finance Minister Ken Ofori-Atta, has disclosed. Mr. Ofori-Atta speaking on the floor of parliament on Monday, July 29, 2019, said the bank which was a creation at the instance of a collapse of some five…
-
#GHBudget: Financial sector clean-up could cost GH¢21 billion
The cost of cleaning up the financial sector could cost as much as US$4 billion, which is about GH¢21 billion, Ken Ofori-Atta, Finance Minister has said. The Finance Minister speaking on the floor of Parliament today said the government had to step in to protect the integrity of the sector as well as protect depositors…
-
Domestic revenue falls short by GH¢4.2 billion; fiscal deficit target missed
Domestic revenue mobilization target fell short of its target for the first half of 2019 by about GH¢4.2 billion, the Finance Minister Ken Ofori-Atta has told Parliament. Government over the past three years has struggled to achieve its revenue targets and this year’s shortfall comes as a little surprise. Explaining the reasons behind the shortfall,…
-
We’re spending US$500mn on unconsumed power — Ofori-Atta
The Finance Minister Ken Ofori-Atta has said the previous administration signed power deals that cost the government about US$500 million per annum in power that is not consumed. Speaking at the presentation of the 2019 mid-year budget, Mr. Ofori-Atta said the country’s total installed capacity of 5,083 MW is almost double our peak demand of…