Kenya could register a small primary surplus in 2023-2024, the first in two decades, buoyed by an economic recovery after the coronavirus pandemic, according to the World Bank. The primary deficit, which excludes interest payments, could come in at 4.6% of gross domestic product in the fiscal year through June, and swing to a 0.3%

The deficit in Nigeria’s infrastructure has brought a heavy cost to the economy. For instance, congestion due to poor port and associated transport infrastructure has created losses of N3.5 trillion at Nigeria’s maritime logistic hubs, according to a March 2019 report by the research group, African Centre for Supply Chain (ACSC). These losses are set to

Executive Director of PFM Tax Africa, Seth Terkper, has said it will be a shame for the ESLA levy to become a permanent levy given the purpose and duration for which it was implemented by the previous government. According to Mr Terkper, ESLA was initially projected to last for three to five years as it

The Ghana Association of Bankers wants government to find other ways of addressing the high fiscal deficit, rather than targeting the banking sector with new tax introduction. “As an industry, we believe that if we [the banking industry] have this huge fiscal deficit, we must have a plan to address it.” “We believe we have

As the discussion around the International Monetary Fund’s (IMF) classification of Ghana as a low income developing country continues, the Head of the Institute for Statistical, Social and Economic Research (ISSER), Professor Peter Quartey has called on the government to focus on building a resilient economy that will thrive after the COVID-19 pandemic is dealt

Deputy Finance Minister-designate John Kumah has conceded that the Energy Sector Levy Act (ESLA) introduced by former Finance Minister Seth Terkper during the Mahama administration, has been helpful to the Akufo-Addo government in clearing a lot of energy sector-related debts. Now known as ESLA PLC, the company’s key objective is to resolve the energy sector

“The ultimate resource in economic development is people. It is people, not capital or raw materials that develop an economy.” – Peter Drucker.Then where is Ghana headed with the staggering statistics of road accidents that keep going from bad to worse?According to the National Road Safety Authority (NRSA), there has been a 14.8% increase in

PFM Tax Africa views the 2021 mid-year budget review by Finance Minister, Ken Ofori-Atta as inadequate, failing to satisfy the legal requirement and obligations under section 28 of the Public Financial Management Act 2016 (Act 961). We classify the minister’s presentation, not lightly, as virtual non-review. See below our news release on the minister’s presentation

The International Monetary Fund (IMF), has expressed worry over Ghana’s rising debt stock noting the country has to implement some drastic measures to contain the debt situation. Addressing the issue, Director of the African Department of the IMF, Abebe Amero Selassie, adviced government that it revise some of its debt sustainability programmes. “Our engagement with

Auditing firm PwC is warning that government’s decision to mainly finance its 2022 fiscal deficit from domestic borrowing could prevent local businesses from accessing funds to expand their operations. In the 2022 budget presented to parliament by the finance minister, government is seeking to fund its projected fiscal deficit of 7.4 percent of GDP through