Government has reduced the Communication Service Tax (CST) from 9% percent to 5% percent. This is to last for six months, according to the Minister of Finance, Ken Ofori-Atta. The Finance Minister said this on Thursday, July 23, 2020, when he presented the mid-year budget review in Parliament. “In the short term, we will reduce … Read more
The Finance Minister on Monday announced that Ghana may lose abouth GHS9.5 billion in the fight against the COVID-19 pandemic, a situation that may move the 2020 budget deficit to over 7 percent. This will be 2.5 percent of Ghana’s revised GDP. “Speaker, the total estimated fiscal impact from the shortfall in petroleum receipts, shortfall … Read more
The Minister of Finance, Ken Ofori-Atta is hopeful that the new budget to be presented in Parliament in July 2020, will reposition Ghana’s economy to meet the global impact of the COVID-19 outbreak. He says discussions are already underway among Finance Ministers in Africa to find mechanisms to restore the gains achieved in the face … Read more
The Finance Minister has told Parliament that $8.9 million was spent to print the new ¢100 and ¢200 notes. Responding to questions on the Floor of Parliament on Tuesday, Ken Ofori-Atta said $5.39 million has already been paid. “Information obtained from the Bank of Ghana (BoG) shows that the cost of printing the ¢100 and … Read more
The Ministry of Finance has announced a 10 percent pay rise across board for public workers under the Single Spine Salary Structure beginning January. This was contained in a statement issued on Wednesday by the Finance Ministry and signed by Abena Osei-Asare, Deputy Minister. “Following conclusion of negotiations on the 2019 single spine base pay, … Read more