Month: November 2017

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 […]