Ghana’s economy continues to exceed expectations – Finance Ministry
Ghana’s economy continues to exceed expectations, overcoming challenges and solidifying its position as one of Africa’s most dynamic economies, according to the Ministry of Finance. Citing data from the Ghana Statistical Service (GSS), the Ministry highlighted the nation’s remarkable economic performance in the third quarter of 2024, underscoring its resilience and growth amid global and […]
Finance Minister to grace inaugural National Sales Leaders Conference in Accra
By: Edzorna MensahThe Minister of Finance, Dr. Mohammed Amin Adam is set to grace the inaugural National Sales Leaders Conference (NSLC) slated for August 14th and 15th as the special guest of honour. The event which will be held at the Accra International Conference Centre will also be attended by a Deputy Minister for Trade […]
Government misses revenue target by 1.9 percent in first half of 2024
Minister for Finance, Dr. Mohammed Amin Adam, has disclosed that total revenue and grants for the first half of 2024 amounted to GH¢74.7 billion, below the target of GH¢76.1 billion, representing 1.9 percent. He said despite the shortfalls, the outturn showed a nominal year-on-year growth of 24.6 percent and constituted 42.3 percent of the budget’s […]
Accounting for Power: A Critical Analysis of Finance Minister’s Claims on Revenue Recognition and Arrears owed Independent Power Generators
At a recent Press Conference at the Ministry of Finance, the Finance Minister, Hon. Amin Adams, suggested that revenue recognition and arrears owed to Independent Power Producers (IPPs) under Power Purchase Agreements (PPAs) are realized solely through the monthly invoices received and paid by the Electricity Company of Ghana (ECG). This assertion oversimplifies the complexities […]
Mid-year Budget review to deal with fiscal discipline – Finance Minister
Ghana’s Minister for Finance, Dr Mohammed Amin Adam, has stated that the mid-year budget review will focus on measures that will promote growth of the economy and tighten expenditure. He called for support from Commercial Bank and other financial sector players as part of stakeholder engagement of the budget review to promote growth. He […]
I’ll not depart from ongoing IMF programme – Amin Adam
By: Franklin ASARE-DONKOH The newly appointed Ghana’s Finance Minister, Dr. Mohammed Amin Adam, says he will not deviate from economic policies his predecessor, Mr. Ken Ofori Atta, has put forth. Speaking in an interview hours after his appointment to replace Mr. Ofori Atta was announced, Dr. Adam who has been part and parcel of government’s […]
Government expenditure projected to exceed revenue for 2024 financial year
By: Edzorna Francis Mensah The budget statement and economic policy of the Government of Ghana for 2024 Financial Year, presented to Parliament by the Minister of Finance on 15th November pursuant to Article 179 of the 1992 Constitution of the Republic of Ghana and Section 21(3) of the PFM Act 2016 (of ACT 921) has shown that, […]
2024 Budget: Government scraps tax off locally produced pads and imported Electric vehicles
By: Clifford Okyere The government through Finance Minister Ken Ofori-Atta, as part of its fiscal measures, has decided to waive import duties on Electric Vehicles (EVs) designated for public transportation for 8 years. The Finance Minister announced this during the presentation of the 2024 Budget and Economic Statement to Parliament. In addition, import duties would […]
2024 budget to achieve economic balance – Information Minister
By: Emmanuel Oti Acheampong The Finance Minister will tomorrow, November 15, 2023, present to Parliament of Ghana Budget for the year 2024. Ahead of the reading, there have been lots of speculations with the Minority in Parliament promising a vivid and critical scrutiny of the budget after it is read by the Finance Minister, Ken […]
BoG’s GH₵60.8 bn debt is a technical loss – Ken Ofori-Atta explains
By: Roberta Gayode Modin The Bank of Ghana (BoG) incurred a loss of GH₵60.81 billion from its audited financial statement for the 2022 fiscal year. This loss according to the BoG, is largely due to government’s debt restructuring activities. Speaking on GBC’s “Talking Point”, the Finance Minister affirmed the claims made by the Central Bank. “You can […]
