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2016 Budget Statement and Economic Policy of the Government of Ghana

The Budget Statement and Economic Policy of the Government of Ghana for the 2016 Financial year presented to Parliament on Friday, 13th November, 2015 by Hon. Seth E. Terkper, Minister of Finance on the Authority of H. E. John Dramani Mahama, President of the Republic of Ghana. 
Theme: "Consolidating Progress towards a Brighter Medium Term"

Call for Application: NIE of the Green Climate Fund

The Ministry of Finance invites applications from eligible organizations for accreditation support as National Implementing Entities (NIEs) for the Green Climate Fund (GCF) set up under the United Nations Framework Convention on Climate Change (UNFCCC).

National Policy On Public Investment Management (PIM Policy)

A core responsibility of the Government of Ghana (GOG) is the provision of public infrastructure and services to improve the living conditions and facilitate effective economic activities in the country. Over the years, the delivery of this mandate had been met with various challenges. Government places high premium in the management of public investment, especially, with the view that volume and composition of public investment significantly impacts on macroeconomic performance. 

Goldfields Limited Present Dividend to Government

The Deputy Minister for Finance, Hon. Mona Quartey has commended Goldfields Limited for consistently paying its dividend to Government despite challenges with power supply and fallen prices of gold. She also urged companies in the extractive industries to emulate the performance of Goldfields Limited in this regard. Hon Quartey made these remarks when she, on behalf of the Ministry of Finance, received an amount of US$ 7 million, being the 2015 interim dividend of Goldfield Limited.

2015 - 2017 Medium-Term Debt Management Strategy

The MTDS is a useful public debt management tool that recognizes the cost and risk trade-offs in setting sustainable borrowing limits and ensuring that debt is serviced under a wide range of shocks without risk of default. Ghana's 2015 MTDS has been carefully drafted by taking into consideration the medium term macroeconomic fiscal framework, which among others covers prudent revenue projections and planned expenditures.


3rd September, 2015 - Introduction About a month ago, I presented a mid-year review of the 2015 Budget and Supplementary estimates for 2015. Since then, there have been new developments both domestically and externally which has necessitated this briefing. The Mid-Year Review was also based on end-May 2015 performance of the economy. This media brief updates the performance to June, 2015.


The Ministry of Finance working together with the Bank of Ghana, announces for the information of Primary Dealers, Banks, Brokers, the Genera! Public and all prospective investors in the domestic securities market, the Issuance Calendar for Government of Ghana Securities for the period July - December 2015.


Ghana has signed three financial agreements with the World Bank totaling US$220 million, as well as a Policy Based Guarantee of US$400 million to cover securities issuance of up to US$1 billion by Government.
The Agreement involves Budget Support of US$150 million and  an additional financing of US$25 million for the Transport Sector Project, in respect of the 52.2km rehabilitation of the Ayamfuri-Asawinso Road; 15 km dual carriageways of the Accra East Corridor; and rehabilitation of selected Feeder Roads in the Central and Volta Regions.


Ghana and Germany have signed two Financial Cooperation Agreements totaling €40.31 million, to support the implementation of the 2015 national budget, as well as provide long term finance for agricultural activities through the Outgrower Value Chain Schemes.
The Minister for Finance, Hon. Seth Terkper signed on behalf of Ghana whilst the Country Director of KfW Development Bank Ghana, Ms. Brite Schorlemmer, signed on behalf of the German Government. 

Ghana Revenue Authority inaugurates special taskforce

Accra, Aug. 3, 2015 GNA - The Ghana Revenue Authority (GRA) has inaugurated a 40-member special revenue mobilisation taskforce, to enforce compliance with tax laws and to get defaulting and potential taxpayers to honour their tax obligations.
The taskforce would be checking for the issuance of VAT/NHIL invoices by businesses, the filing of VAT/NHIL, Pay as You Earn, returns by the due dates, and the payment of any outstanding tax liabilities (debts) owed the GRA, among other things.


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