Tag: Ken Ofori Atta
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Ken Ofori-Atta to present 2019 mid-year budget review to Parliament
In accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921), the Minister for Finance is expected to present the Mid-Year Review and Supplementary Estimates to Parliament on Monday 29th July, 2019. According to a Finance Ministry press release, this year’s presentation will have a particular focus on issues affecting the energy…
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Mid-year review: AGI wants excise tax on bottled water removed
The Association of Ghana Industries (AGI) is calling for an excise tax waiver on bottled water in the mid-year budget review as it would help make companies in the sector more competitive and productive. The Association said the high excise regime on bottled water, a basic necessity in the country, is a major challenge…
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[Article] Seth Terkper writes: The true status of the NPP’s 17+ tax measures (1)
Introduction The 2017 Budget tax “reliefs” have been extolled for almost three years and, likely will be likely repeated ad nauseum in 2019 and 2020. However, the 2019 Mid-Year Review may also result in more explicit reversals of some “nuisance” tax measures that have adversely affected the tax structure. Progress in the third successive year…
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Be realistic about fiscal prospects — Terkper tells Ofori-Atta
The former Finance Minister Seth Terkper has stated that there is the need for the Akufo-Addo government to be realistic about where they intend taking the country. With the Finance Minister Ken Ofori-Atta scheduled to present the mid-year budget review to Parliament on Monday, his predecessor is arguing that the government is crumbling under the…
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Ghana to host 2019 Africa Caucus Meeting next week
The Ministry of Finance and the Bank of Ghana will be hosting the first leg of the 2019 African Caucus Meeting of the Governors of the World Bank Group and the International Monetary Fund (IMF) in Accra between 31st July and 2nd August 2019. The second meeting will take place at the venue of the…
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Ofori-Atta to present mid-year budget review on July 24
The Finance Minister Ken Ofori-Atta is expected to present the government’s supplementary budget statement to Parliament on July 24. The presentation was earlier scheduled to be made on July 17 but has now been pushed a week ahead. The Public Financial Management Act, 2016 (PFMA) Act-921, requires that the Finance Minister presents a Mid-Year Review…
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EIU predicts government will overspend its budget in 2020
The Economist Intelligence Unit (EIU) is predicting that the government will struggle to lower its expenditure in the run-up to the 2020 general elections. Despite government passing the Fiscal Responsibility Act last year aiming to limit future budget deficits to a maximum of 5% of GDP, the London-based business advisory firm expects the government to…
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Ofori-Atta to present mid-year budget on July 17
Minister of Finance Ken Ofori Atta is expected in Parliament on July 17 present the 2019 mid-year review and supplementary budget. The Minister is enjoined by the Public Financial Management Act to present a mid-year review to Parliament six months after the presentation of the main budget for the fiscal year. The Minister in a…
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Finance Ministry approves GHS1.5 billion for 14 road projects
Minister of Finance, Ken Ofori-Atta, on Friday 28 June conditionally approved a multi-year funding commitment of more than GH¢1.56 billion for the commencement of 14 road projects over the medium term. The move to approve the projects will see reconstruction, rehabilitation and upgrading of some selected road networks spanning 381.3 kilometres across Ashanti, Brong Ahafo,…
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Government to review luxury vehicle tax in Mid-Year Budget
The Ministry of Finance has announced plans to review the luxury vehicle tax introduced in the 2018/2019 national budget. Under the law, vehicles with engine capacity above 3.0 are charged fees ranging from 1000 cedis and above. The law has been criticized by car dealers and vehicle importers, arguing that it has increased their cost…