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.
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.
Right Honourable Speaker and distinguished members of Parliament, on the authority of His Excellency, President John Dramani Mahama, and in accordance with Article 179 (8) of the 1992 Constitution, I stand before this august House, to present a Mid-Year Review and revised macroeconomic targets as well as seek approval for Supplementary Estimates for the 2015 fiscal year. These revised estimates have been necessitated by domestic and longstanding global developments.
WASHINGTON, July 1, 2015— The World Bank Group’s Board of Executive Directors today approved US$150 million budget support for Ghana. The credit from the International Development Association (IDA)* supports the First Macroeconomic Stability for Competitiveness and Growth Development Policy Financing (DPF), the first of three development policy financing operations aimed at helping the Government of Ghana stabilize its economy and shore up fiscal control by implementing financial policies and processes that are transparent and predictable.
June 30, 2015 On behalf of the Government of Ghana, I present to you the maiden edition of Annual Budget Performance Report for the year ending 31st December, 2014.
The 2014 Budget Performance Report provides a comprehensive assessment of Government’s Performance and the result of public spending. The assessment focuses on what has been achieved against what was planned and what difference this has made in terms of improvements in public service delivery…
In accordance with Article 179 (I) of the Constitution and Regulation 152 (I) of the Financial Administration Regulations, we circulate on behalf of H.E. the President, for your information and necessary action, guidelines for the preparation of the 2016-2018 Budget Proposals which will inform the preparation of the Government's Budget and Economic Policy.
2. The 2016-2018 Budget will be based on the Medium Term Development Plans of MDAs and MMDAs which have been developed using the Ghana
The European Commission is to resume budget support disbursements to Ghana.
The EU will release in total, 161.38 million Euros of budget support to Ghana in the coming weeks. The good news was announced by the EU Ambassador to Ghana, William Hanna, at a meeting with government officials in Accra on Friday. This support is aimed at four areas-105.63 million euros to support implementation of the Ghana Shared Growth and Development Agenda II, Ghana’s National Development Plan for 2014-2017 ...
Ghana’s journey to the GF began in 2007 when Ghana established an International Financial Services Centre (IFSC) which permitted offshore banks to operate in Ghana. The offshore banks made it possible for non-resident persons (both individuals and companies) to open offshore bank accounts in Ghana. As at October, 2010 only one bank had been issued a license to operate offshore banking in Ghana. However, the license was surrendered to the Bank of Ghana (BoG) in 2011.
Ghana has witnessed significant economic growth over the past decade with real GDP growth rising steadily from 3.7 percent in 2000 to 11.5 percent in 2011 before decelerating to 4.0 percent in 2014 mainly on account of energy challenges.
Due to a combination of unfavourable global factors and domestic challenges, the economy has come under severe stress since 2012, leading to double digits fiscal and external current account deficits.