Tag: IFS
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Gov’t must seek debt relief and cancellation to ease debt burden – IFS
The Institute of Fiscal Studies, IFS, has urged government to immediately seek debt reliefs and cancellation from its major creditors. According to the Institute, while it is true that the pandemic has affected the country’s fiscal position, the ‘head-scratching choices’ of the government to alleviate the economic impact of the pandemic puts the country in…
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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…
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GH¢4.6 billion tax exemptions unsustainable — IFS
The Institute for Fiscal Studies (IFS) has described the country’s tax exemptions regime which grants waivers to the tune of GH¢4.6 billion as unsustainable; calling on Parliament to pass the Tax Exemptions Bill. The Finance Ministry has since March 2019 submitted to the legislature a Tax Exemptions Bill for consideration and passage into law to regulate…
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SSNIT to cease lump sum pension payments from 2020 – Employment Minister
From next year (2020), all pensioners on the new pension scheme, will access their lump sum payments from the managers of pension schemes other than the Social Security and National Insurance Trust (SSNIT). By this, the state pension’s manager, SSNIT will only be mandated to pay monthly benefits to pensioners. Employment and Labour Relations Minister,…
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Ambitious 2019 revenue less achievable – IFS
The Institute of Fiscal Studies (IFS) has expressed fears over the government’s ability to meet its revenue projection for next year [2019]. The think tank argues that the government will have to work to attract a lot more people to pay taxes if it is to meet the set targets. The concerns raised by the…
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Use 2019 budget to boost tax revenue – IFS to gov’t
Executive Director of the Institute for Fiscal Studies, Professor Newman Kwadwo Kusi has advised government to review the tax systems in the upcoming budget in order for government to realize more revenue for the country. The budget has been scheduled to be read on the 15th of November, 2018. Professor Kusi argues that the move…
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Poverty levels to widen over excessive borrowing – IFS
The Institute for Fiscal Studies (IFS) is predicting of a huge distortion to the provision of major infrastructural projects in the country should government fail to tackle the rising public debt stock. The IFS argues that the rising interest payment on the debt continues to drain financial resources allocated to the construction of critical infrastructure…
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GSE praised for suspending companies
Financial sector analysts have backed the decision by the Ghana Stock Exchange (GSE) to suspend companies that fail to comply with the rules of the stock market. According to them, the move will improve the efficiency of the local bourse and attract more investors. The GSE, last Friday suspended five companies for failure to comply…
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Sustain ties with IMF after December 2018 – IFS to gov’t
The Institute of Fiscal Studies (IFS) has impressed on the NPP not to completely cut ties with the International Monetary Fund (IMF) even after completing the three year program in 2018. The IFS explains that the government’s plans to exit the program after 2018 may be necessary only if it is able to meet set…
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Govt may miss 2017 budget target over low expenditure – IFS
The Institute for Fiscal Studies (IFS) has cautioned that government will miss its 2017 budget target should it fail to spend in critical sectors of the economy. The IFS argues that government’s refusal to pay valid arrears and invest in infrastructural development for the first half of this year has impacted heavily on economic growth.…