THE 2018 BUDGET STATEMENT AND ECONOMIC POLICY OF GOVERNMENT

SECTION ONE: INTRODUCTION 1. Rt. Hon. Speaker, Honourable Members of Parliament, on the authority of His Excellency the President, Nana Addo Dankwa Akufo-Addo, I beg to move that this Honourable House approves the Financial Policy of the Government of Ghana for the year ending 31st December 2018. 2. On the authority of the President, and in accordance with Article 179 of the 1992 Constitution, permit me to present to this august House, the Budget Statement and Economic Policies of government for 2018. 3. I also submit before this august House The 2017 Annual Report on the Petroleum Funds, in accordance with Section 48 of the Petroleum Revenue Management Act, 2011 […]

Minority delivers damning verdict on 11-month-old Akufo-Addo administration

The Minority in Parliament has delivered a damning verdict on government’s management of the economy with just 11-months in office. The Minority is predicting there will be severe austerity equivalent to that of 1983 in Ghana next year because of the government’s poor management of the economy over the last 11 months. At a budget preview forum in Parliament House, its spokesperson on Finance, Casiel Ato Forson said the government has failed in delivering on the many promises it made during the 2016 election. He cited the reduction in taxes, which was promised by then candidate Akufo-Addo as one of the promises yet to see the light of day. Rather than reducing taxes on […]

Let’s go and face Antoa – Former COCOBOD Chairman dares government

Former Board Chairman of Ghana Cocoa Board (Cocobod), Daniel Ohene Agyekum, has thrown a challenge to the New Patriotic Party (NPP) government. He has dared the current administration to appear before Antoa, the dreaded river deity in the Ashanti Region, over issues emanating from the COCOBOD scandal involving the disappearance of $400 million from the company’s account. Recent news has revealed the extent of alleged corruption and mismanagement at COCOBOD under the supervision of former Chief Executive, Dr. Stephen Kwabena Opuni and the direction of the board chaired by Ohene Agyekum, former Ambassador to the United Sates. Corruption The new COCOBOD CEO, Joseph Boahen Aidoo, threw a bombshell last week […]

2018 budget will improve domestic revenue collection – Ofori-Atta

Finance Minister, Ken Ofori-Atta has stated that the 2018 budget which will be presented in parliament later this month will use innovative ways to improve domestic revenue collection for economic development. This follows calls from the Institute of Fiscal Studies, urging government to use the 2018 budget to improve tax collection by broadening the tax base. Speaking at the 38th Annual Technical Conference in Accra, Ken Ofori-Atta stated that it is important to improve tax collection since Ghana’s tax to GDP ratio is below what is required for economic development. He hinted that improving domestic revenue is one of the critical areas that the budget will address. “We are in […]

Parliament Raises Concerns Over “Back Door” 4G Authorization For Busy Ghana

The Parliamentary Select Committee on Communications is questioning how Busy Ghana got a 4G authorization through the “back door” when other players paid millions of dollars for their 4G licenses. The law makers raised the question at a recent meeting with the leadership of the Broadband Communications Chamber (BBCC), where issues about sanitizing the 4G space and strengthening local content among others were discussed. It would be recalled that MTN paid a whopping US$67.5 million for their 4G license, and three broadband wireless access operators (BWAs); Surfline, Blu and Goldkey paid US$6million each for theirs, but Busy Ghana and Telesol got mere authorization to do 4G for an alleged meager […]

Energy Bond Auction Further Extended

The closing date for the auction of the energy bond has been extended to Friday, October 27, 2017. This is a day ahead of the initial scheduled date of Thursday, October 26, 2017. Subsequently, the issuing date for the bond has been rescheduled to November 1, 2017. This also is a day ahead of the former October 30, date. This was contained in a statement to investors and copied to Citi Business News. Citi Business News also understands that the decision followed requests by some investors. These comprised large local and foreign ones who requested they needed an extra day considering the fact that the structure of the bond is not […]

Kufuor denies DJ Oxy’s claim he was contracted to mudsling Akufo-Addo

Former President John Agyekum Kufuor has denied assertions that people close to his erstwhile government hired an individual to make scandalous reports about then presidential aspirant, Nana Akufo-Addo. According to entertainment critic and CEO of Oxy FM, by Alfred Kwame Larbi aka DJ Oxy, he was contracted by some elements in former President Kufuor’s camp in 2008 to publish a scandalous story against Nana Akufo-Addo. Speaking on Accra-based Rainbow Radio, the CEO of Oxy FM alleged that the mischievous deal was struck with the unnamed persons at the time some 17 aspirants battled for the flagbearship slot of the New Patriotic Party (NPP) in 2008. Read: Even if I sell my children, […]

Free SHS saves education of over 100,000 JHS graduates – Akufo-Addo

President Nana Addo Dankwa Akufo-Addo says his government’s Free senior high school (SHS) education policy has bolstered the confidence of Ghanaians in education. He said the policy has saved the education of at least 100,000 students who would have stayed home because of the financial status of their parents. Related Article: Current free SHS not what Akufo-Addo promised – Minority The President told residents in the Upper West Region Tuesday, the country would have been grappling with over one million Ghanaian youth whose education would have been truncated at the junior high school (JHS) within five years. But the Free SHS policy has seen an additional 90,000 JHS graduates entering SHSs […]

Former A-G urges boundary talks between Ghana, Togo to avert dispute

Immediate past Attorney General, Marietta Brew Appiah-Oppong has implored government to ensure the delimitation of the country’s border boundary with neighbouring Togo to avert future dispute. She said a definite resolution of the border boundary with Togo will save Ghana the experience it went through with the four-year-old maritime dispute with Ivory Coast. Mrs Appiah-Oppong told Mamavi Owusu Aboagye on the AM Show on the JOYNEWS channel on MultiTV Monday, the absence of a clear border boundary between Ghana and Togo will not lead to another legal tussle. “We should remember that litigation is always the last resort especially when it comes to your neighbouring state or country. I believe that negotiations […]