Tag: Ken Ofori Atta
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Increase tax on profitable and more resourceful businesses – IEA
The Institute of Economic Affairs (IEA) on Tuesday said the government should have imposed more taxes on profitable and resourceful businesses rather than sparing them in the mid-year budget review. The Institute said the Minister would be more successful in raising revenue to fund the expenditure needs if the tax increases were directed at the…
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Ghana needs US$10billion annually to meet infrastructure demand — Ofori-Atta
The government will need up to US$10 billion a year to achieve its infrastructure demand. Finance Minister, Ken Ofori-Atta told the press after the African Caucus Meeting held in Accra. According to him, although Ghana’s debt keeps rising like other African countries, borrowing still remains an alternative for raising funds for development. “The problem is…
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African Governors commit to human capacity and skills development
The African Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG) have made commitments to enhance human capacity and skills development to accelerate jobs and economic transformation. The commitments were made in the Accra Declaration, a communique adopted and issued after the 2019 Africa Caucus Meeting held in Accra from July…
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Spending over 96% of supplementary budget on debts is crucial – Prof. Quartey
Government’s decision to use almost 97% of its supplementary budget to pay debts may be described as better late than never. That is the position of the Director of Economics at the Institute of Statistical, Social and Economic Research (ISSER), Professor Peter Quartey. His comments come on the back of analysis by Citi Business News…
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![Gov’t to use more than GH¢6.15 bn [96.6%] of supplementary budget to pay debts](https://citibusinessnews.com/wp-content/uploads/2019/05/Ken-Ofori-Atta-1.jpg)
Gov’t to use more than GH¢6.15 bn [96.6%] of supplementary budget to pay debts
The Finance Minister Ken Ofori-Atta on Monday, July 29, 2019, asked Parliament to approve an amount of GH¢6.37 billion being the supplementary budget for the 2019 fiscal year. While questions have been raised regarding what these additional funds will be used for, Citi Business News analysis of the mid-year budget shows that more than GHS6.15…
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#GHBudget: Ten things to note from the 2019 Mid-Year Budget
The Finance Minister Ken Ofori-Atta on Monday, July 29, 2019, appeared in Parliament to present government’s mid-year budget and supplementary estimates in line with the Public Financial Management Act, 2016 (PFMA) Act-921. Citi Business News unpacks the budget presented into 10 salient points. GDP growth has been revised to 7.1 percent from 7.6 percent The…
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‘We’ll picket at Finance Ministry if increases in energy levies are not reversed’–COPEC
The Chamber of Petroleum Consumers Ghana (COPEC) has indicated that it will engage the Finance Minister to reverse a decision to increase some components in the petroleum price buildup. The group, however warned that it will picket at the Finance Ministry if all attempts aimed at getting the government to overturn the decision fails. The Finance…
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Removing take or pay clauses may result in judgement debts – Analyst
The government risks being slapped with judgment debts if producers of fuel and power fail to comply with terms of proposals to cancel take or pay clauses in the energy sector. That is the comment from Executive Director of the Kumasi Institute of Technology, Energy and Environment (KITE), Ishmael Edjekumhene. It follows the disclosure by…
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#GHBudget: Banking sector reforms will create more jobs — Ofori-Atta
Finance Minister Ken Ofori-Atta has said that the banking reforms undertaken by the central bank will support the creation of more jobs. Presenting the mid-year budget review in Parliament today, Mr. Ofori-Atta said the reforms have created more resilient banks that can support the economy and businesses and thus the creation of more jobs. The…
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Mid-year budget review: Why Ofori-Atta may plead for more money
The glee with which Finance Minister Ken Ofori-Atta announced a bundle of tax reliefs in his maiden budget in 2017 will be missing today when he delivers his 2019 mid-year budget. Government’s underperforming domestic revenue has provided enough headache rather than something to smile about. The weight of expectations on Akufo-Addo’s government is enormous —…