The Minority caucus in parliament has warned that it will strongly oppose any move by the government to introduce new taxes or increase existing ones, warning that such measures will burden Ghanaians further. Addressing a press conference on Monday, March 3, former Minister for Finance, Dr Mohammed Amin Adam, criticised the government’s tax revenue target […]
Former Finance Minister Dr Mohammed Amin Adam has raised questions regarding President Mahama’s comment on the New Patriotic Party’s government’s handling of the economy. He challenged claims of a sudden fiscal crisis that has limited public sector wage increases. In a Facebook, Dr Adam questioned how an economy labelled as “criminally mishandled” could support significant […]
Ghana’s economy grew by 7.2 % in the third quarter of 2024, provisional figures released by the Ghana Statistical Service has revealed. Compared to the second quarter of 2024, the economy grew by 6.9%. The Services sector continues to be the largest of the Ghanaian economy with a share of 42.9% of Gross Domestic Product […]
The International Monetary Fund (IMF) Executive Board has completed the third review of Ghana’s 36-month, $3 billion Extended Credit Facility (ECF) program, initially approved in May 2023. The review’s conclusion paves the way for an immediate disbursement of Special Drawing Rights (SDR) 269.1 million (approximately $360 million), bringing total disbursements under the program to around […]
Ghana has taken a major step forward in its digitalisation agenda with the launch of the CitizenApp, a digital platform that consolidates all digitised public services. The app, designed to streamline interactions between the government and the public, was officially launched on Monday by Vice President Dr. Mahamudu Bawumia in Accra, with representatives from various […]
The Monetary Policy Committee of the Bank of Ghana has dropped the policy rate by 200 basis points to 27 per cent. This is a result of the macro economic indicators trending in the right direction. Announcing the decision, the Governor of the Bank of Ghana, Dr Ernest Addison said the macro economic indicators are […]
The country’s economic figures stand in sharp contrast with the daily economic hardships faced by citizens, the Institute of Statistical, Social, Economic and Research (ISSER) has observed. It said although the country’s total income distributed per person, also known as per capita income, had increased by $386 from $1,979 in 2016 to $2,365 in 2023, […]
Ghana’s economy will enter a recovery phase this year as the government is expected to increase expenditure in an election year, rating agency, Fitch, has predicted. – It said the recovery would be driven by stronger private consumption. Going into the 2024 elections; many have expressed concerns that the government would overspend its budget, a […]
The Ghana Statistical Service revealed on Wednesday that Ghana’s economy experienced a 2.9% growth in 2023, marking a decline from the 3.8% growth seen in 2022. Highlighting the specifics, the Statistical Service noted that the final quarter of 2023 showcased the highest real GDP growth rate at 3.8%, mirroring the growth rate observed in the […]
Inflation is expected to decline to 22.4% in January 2024 from 23.4% in December 2023, IC Research has predicted in its latest report. According to the research firm, improved foreign exchange outturn in late December 2023 into early January 2024 would sustain the lid on price pressures. “Our forecast shows a modest decline in the […]
The International Monetary Fund (IMF) is predicting a 15% end-of-year inflation in 2024. It is also forecasting an 8.0% end-of-year inflation in 2025, 2026 and 2027. This means that the increasing prices of goods and services will slow down this year and drastically in the next three years. The revelation was captured in the Fund’s […]
The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has stated that Ghana’s economic policies under its programme are beginning to yield the desired outcomes. She emphasised that the policy and reform commitments outlined in Ghana’s deal with the Bretton Woods Institution are in the best interest of the Ghanaian people. In a […]
