Former Minister for Finance, Seth Terkper, has said revenue projections for Ghana over the medium term fall below the 17.8 percentage points total revenue of Gross Domestic Product (GDP) attained in 2015. According to Mr Terkper, total revenues as a percentage of GDP attained over the medium term will be in the region of 16

Taxpayers must be up to date with compliance before asking for assistance. At the National Treasury press briefing on the economic support package required to deal with the negative economic impact of the “recent disturbances”, Finance Minister Tito Mboweni gave assurance that the fiscal path announced in the 2021 February budget will be maintained. Mboweni

Tekper dismisses 10.8% fiscal deficit at end-2016; says economy now not better than it was in 2016 Former Finance Minister, Seth Tekper, has dismissed assertions that the fiscal deficit to Gross Domestic Product (GDP) stood at 10.8% in 2016, saying, the past administration actually left a budget deficit of 6.1% or 4.7%, depending on the

The office of the Auditor General has ordered the Social Security and National Insurance Trust, (SSNIT), to recompute some GHS9.2 million which stand as total penalty charges from nine agent banks for the year ended 2019. In a report by the acting Auditor General, Johnson Akuamoah Asiedu, on the public accounts of Ghana for the

The COVID-19 pandemic has stifled many sectors of the global economy. But it has apparently boosted the business of fraudsters. Experts note that some fraudsters have taken advantage of the new opportunities of the pandemic economy and that they seem to become ever more sophisticated in their methods. At the same time anti-fraud measures are becoming more sophisticated too, with technology playing

A campaign to prevent government from taking on more loans particularly through the issuance of debt-instruments – Eurobonds – on the international capital market has been launched. A campaign to prevent government from taking on more loans particularly through the issuance of debt-instruments – Eurobonds – on the international capital market has been launched. Adding

Cryptocurrencies have been tipped to revolutionalize remittances to developing countries as they promise lower service fees than cash transfers. Experts at Trust Payments hold that apart from lower fees, cryptocurrencies, as a means of money transfers across borders, has other advantages over cash. The advantages include the fact that cryptocurrencies are decentralize money, provide better

The Minister designate for Finance, Mr Ken Ofori-Atta, has justified the need to introduce new taxes at a time Ghanaians are coping with the negative impact of the coronavirus disease. Responding to a question during his vetting on Thursday by the Appointments Committee of Parliament, Mr Ofori-Atta said it was necessary for Ghanaians to learn

Banks in the country going forward are expected to pay 5 per cent of gross profits to government. The new directive contained in the 2021 Budget Statement and presented to Parliament on March 12, by Minister for Parliamentary Affairs, Osei Kyei Mensa-Bonsu, is to help defray outstanding commitments – locked up funds – in the

The IMF’s record $650bn reserves distribution came into effect earlier this week, with the fund’s managing director Kristalina Georgieva calling on wealthy nations to divert some of their allocation to poorer countries that need greater economic support amid the Covid-19 pandemic, particularly in Africa—which has only been allocated $33bn. Some 70% of the special drawing