Mon, May

ken ofori-atta

  • Numerous economic problems facing the country include expansion in education at all levels, infrastructure, agriculture, health and other essential facilities needed for the overall growth of the economy.

    Written By DR. Kofi Amponsah-Bediako - The mid-year budget review came up with new measures to raise an additional 1.35 billion Ghana Cedis in an attempt to meet the fiscal deficit target by the end of the year and pave the way for a successful exit from the IMF programme.

  • ... the increment is to aimed at creating a viable technology ecosystem to among other things identify and combat cybercrime.

    Government has announced an increment in the communication service tax from 6 per cent to 9 per cent.

  • “If this House grants us this request, the projected petroleum revenue for 2019 will amount to US$1.1 billion,” he stated.

    The Ministry of Finance has proposed to Parliament to allow it to exclude gas revenues to the tune of US$181.80 million from the projected petroleum revenues for 2019, while it devises ways of getting the Volta River Authority (VRA) to pay for the gas supplied it by Ghana Gas.

  • So, you find that we spend billions to build roads and highways that are washed away within months or develop major potholes or do not have requisite markings, traffic signage etc; and essentially become death traps.

    Today, as Ghana’s Finance Minister reads the national budget, as usual, most of us citizens will be focused on three main things- How much is being spent? On what? and Who’s Paying which tax?

  • Written By Colin Essamuah - It has been three very eventful weeks since I last appeared here. We have since then had to digest five important speeches, four of them by President Akufo-Addo, and the fifth being the budget statement by Finance Minister Mr Ken Ofori-Atta.

  • Instead, those who earn income above GH¢20,000 will now be subject to a tax rate of 30 per cent.

    People who earn GH¢10,000 and above will no longer be subject to the additional personal income tax that was introduced in July this year.

  • The 2019 estimate is also 27 per cent higher than 2018 projected.

    The Finance Minister, Mr Ken Ofori-Atta, has requested Parliament’s approval for the government to spend a total of GH¢73.4 billion in 2019.

  • It said the announcement by the Minister of Finance, Mr Ken Ofori-Atta-Atta, to change the 2.5 per cent Health Insurance Fund Levy (HIFL) and the 2.5 per cent Ghana Education Trust Fund (GETFund) levy on VAT into a flat levy would increase the tax liabilities of manufacturers, wholesalers and retailers.

    The Minority in Parliament has accused the government of increasing the Value Added Tax (VAT) through the ‘back door.’

  • Total interest paid for $3b bond = 551.25 + 975 + 2774.50=$4301m or $4.3b Is this why we had the kenkey party? Oh Ghana!! Am I missing something? I just don’t get this.

    Ghanaians have been tricked to believe that the government has won a golden chance raffle of $3b and for which reason, a mighty Kenkey Party at the forecourt of the Ministry of Finance was justified.

  • He said it was not healthy for Ghanaians to repeat the statement that the cedi was the cheapest on the continent, adding that “the truth of the matter is to look at the fundamentals.”

    The Minister of Finance, Mr Ken Ofori-Atta, has given an assurance that the cedi will begin to appreciate against the major currencies within the next two weeks. “The reversal will occur and it is going to be pretty stable,” Mr Ofori-Atta stated.

  • The Minority in Parliament has stated that findings by the Commission on Human Rights and Administrative Justice (CHRAJ) against the Finance Minister, Ken Ofori-Atta over US$ 2.25 million bond vindicate the minority’s position that the bond issuance was fraught with irregularities and did not comply with Ghanaian law.

  • “Brothers and sisters, the disease has been with us just for about two months, but the devastation it has caused to our economy and social lives, it will take years to restore,” he pointed out.

    As the coronavirus pandemic rages, the Trades Union Congress (TUC) on Friday called on the government to quickly develop and implement a holistic economic response strategy to deal with the impact of the pandemic.

  • Mr Ken Ofori Atta, Minister of Finance, has said the country’s macroeconomic indicators are pointing to the right direction, attributing these successes to the various strategies put in place to ensure fiscal stability and growth.

  • “We, therefore, consider the decision to be premature and call for its reversal,” the ministry said in the release ...

    The Ministry of Finance says the European Commission used a “flawed” and “premature” methodology to add Ghana to its list of countries with strategic deficiencies in their Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) framework.

  • The Ministry, therefore, assures the general public and the investor community that Ghana would continue to work with relevant institutions to redeem its nation and bolster its image as a stable nation in Africa.

    Ghana has questioned the credibility of the methodology and the process used by the European Commission to add the country to its list of countries with strategic deficiencies in their Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regimes.

  • The Finance Minister, Ken Ofori-Atta has indicated that one of the taxes that would be adjusted during the Mid-Year Review is the luxury tax on vehicles in response to stakeholders’ concerns.

    In accordance with Section 28 of the Public Financial Management Act, 2016, Act 921, the Finance Minister is mandated to present a Mid-Year Fiscal Policy Review of the Budget to Parliament, not later than the 31st of July of each financial year.

  • He said his request was meant to allow lawmakers and Ghanaians to discuss whether or not the country should spend a portion of the fund to close the fiscal gap due to the impact of COVID-19 on businesses, households and the economy.

    The Minister of Finance, Mr Ken Ofori-Atta, has said his proposal for Parliament to amend the Petroleum Revenue Management Act (PRMA) to allow the government tap into the Ghana Heritage Fund is to trigger a national debate on the use of the fund.

  • The 2017 Budget, first under the ruling government, was tagged as the “Asempa Budget”, the 2018 Budget was termed as the “Edwuma Budget” and the 2019 Budget is being touted as the “Anyidaso Budget”, which literally means hope.

    The Finance Minister, Ken Ofori-Atta, arrived in Parliament at exactly 1037 hours with his Vice President Dr Mahamudu Bawumia, to present the 2019 Budget, which is expected to promote infrastructural development, offer more relief and inspire hope among Ghanaians.

  • He urged Ghanaians to stop badmouthing and browbeating the current exertions of the Cedi, and to stop repeating after others that it is the cheapest on the continent.

    Minister of Finance, Ken Ofori-Atta, has refrained into the melodious chorus surrounding the recovery of the embattled national currency, the Cedi, whose stock continue to take hard-hits from the ever-hard-hitting United Kingdom Pounds Sterling and the United States Dollar.

  • Ken Ofori-Atta, the Finance Minister delivering 2019 mid-year budget review in Parliament announced GH¢2.75 billion had been saved through ...

    Anti-graft agencies and civil society organisations (CSOs) have petitioned the Finance Minister for further and better particulars on the over GH¢2bn reportedly saved through the review of sole-sourced and restrictive tendering contracts.

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