This alert highlights some of the key changes introduced by the income tax regulations, 2016. Ghana recorded a government budget deficit of 3582. Government of ghana budget statements various issues. Africa ghana the world factbook central intelligence. The budget statement and economic policy ghana news. Terkper minister for finance on the authority of h. The budget statement and economic policy of the government of ghana for the theme. A citizens budget is a shortened and simplified version of the budget to parliament. The 2018 budget statement and economic policy of the government of ghana is also available on the internet at. Ghana association of southern california is a nonprofit, nonreligious, nonpolitical organization founded to mobilize the ghanaian residents and other african descendants of southern california. Ghanas development efforts over the period 2012 2016. In the year to september 2017, the monetary policy committee of the bank of ghana cumulatively lowered the monetary policy rate mpr by 450 basis points to 21. May 11, 2016 amounts are rounded to the nearest million yen for consolidated results 1.
Ghana president vows to revive economy, cut fiscal deficit. Toyotas annual report on form 20f, which is on file with the united states securities and exchange commission. The goal of the nnp is to ensure optimal nutrition of all people living in ghana throughout their lifecycle. The interest equivalent on the 91day tbill rate steadily declined to. What wehaveaudited we have audited the financial statements of university of ghana the institution for the year ended 31 december 2016. Government will obtain this from both domestic and external sources. December 2016 are prepared, inallmaterial respects, inaccordance with the accounting policies described in note 1to the financial statements. For 2016 however, between 290,000 300,000 tonnes of lpg would be required for the. The budget also covers a period of one year from 1st january to 31st december, referred to as the financial year. Consolidating progress towards a brighter medium term. Pwc 2016 budget highlights 2 a nchored on the countrys home grown policies and consolidated by the three year international monetary fund imf extended credit facility ecf programme 20152017, the minister for finance, mr.
Apr 16, 2019 according to a former governor of nigerias central bank, the money nigerians recently spent on education in ghana exceeded the entire federal university budget of nigeriaa reflection of the poor condition of nigerias education system, which is strained by severe capacity gaps and funding shortages. The movie has become known for its bizarre trailer and its lowbudget visual effects. The statistic shows ghanas budget balance in relation to gdp between 2009 and 2018, with projections up until 2021. The regulations, which came into force on 4 july 2016, amplify the provisions in the act. Optimizing ghanas fiscal rule natural resource governance. Budget 2019 statement of the minister for finance and public expenditure and reform mr. Education and research, finance, budget and planning, food and agriculture, health, industry, labour and employment, environment. Parliament is set to listen to the finance minister, ken oforiatta deliver governments budget for 2018. The budget was presented at a time the world economy was recovering from the food, energy and financial crises that had engulfed the globe in 20072008. Forecast of consolidated results for fy2017 april 1, 2016 through march 31, 2017.
The main tax proposals included in the budget are summarized below. Status of contributions to att budgets as at 01 april 2019 next update to be issued in june 2019 state s 2015 2016 budget s 2017 budget s 2018 budget s 2019 budget total received contribution total outstanding contribution albania sp 3,925. The 2016 budget statement and economic policy of the government of ghana is also available. Budget statement and economic policy to parliament on behalf of the president as required by the constitution of ghana. Ghana to work ecowas external tax tarriffs to further improve trade across the ecowas sub.
Status of contributions to att budgets as at 01 april 2019 next update to be issued in june 2019 state s 20152016 budget s 2017 budget s 2018 budget s 2019 budget total received contribution total outstanding. On the authority of the president, his excellency john dramani mahama, the minister of finance in this budget speech indicated that the. Resource policy framework and manual to improve human resource. Production at jubilee, ghanas first commercial offshore oilfield, began in middecember 2010. Photo of balme library of university of ghana, accra, ghana by rjruiziii, licensed under the creative commons attributionshare alike 3. National identification program comes back in 2016. News ghana is ghana s leading online news portal for business in west africa and around the world.
News ghana is ghanas leading online news portal for business in west africa and around the world. Budget for 2016 details on november 2015, the budget for 2016 was presented to parliament by the minister of finance. In 2015, lpg supplied was 279,000 tonnes, an improvement of about 38% over the supply in 2014. Ghana budget balance in relation to gdp 2021 statista. Official pdf, 155 pages world bank documents world bank group. The purpose of this page is to recognize the need to bond together and. He explained that on the basis of the revised revenue and estimates, the revised 2016 budget would lead to an overall budget deficit of ghc 8, 407. With 2016 being an election year, mdas and mmdas that play a direct role should adequately budget for election related expenditures.
The film takes place in the year 2010 and follows ghanaians who must survive a group of hostile aliens who invade accra in the hopes of colonizing the world by the year 2016. Nov 26, 2015 the composite budget of the talensi district assembly for the 2014, fiscal. The theme of the budget is from stabilisation to growth, putting ghana back to work. Ghana budget 2016 budget statement and economic policy 2016 1. Optimizing ghanas fiscal rule aisha adam and david mihalyi the vicepresident of ghana, dr. Ghana association of southern california guidestar profile. On fiscal policy the minister said it created additional fiscal space for sustainable budget expenditures and enhance efficiency in tax administration, compliance and increase tax revenue. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. John dramani mahama president of the republic of ghana republic of ghana. Sowing the seeds for growth and jobs presented to parliament on thursday, 2nd march, 2017 by ken oforiatta minister for finance years on gh mobilising for ghanas future on the authority of his excellency nana addo dankwa akufoaddo. Local government is enshrined in the constitution, as is decentralisation, and the main relevant legislation is the local government act 1993 act 462. According to the minister, the government is seeking to ignite the entrepreneurial spirit in ghanaians and. Based on the medium term macroeconomic framework, the specific macroeconomic targets to be pursued for the medium term 20162018 include the following. Budget 2016 leaflet buisead 2016 bileog summary of budget 2016 taxation measures policy changes achoimre ar bhearta bhuisead 2016 athruithe beartais taxation annex to the summary of 2016 budget measures economic and fiscal outlook 2016.
Budget statement and economic policy of the government of ghana for the. African development bank group financial report 2016. The purpose of this page is to recognize the need to bond together and care for each others welfare in times of need and support. News ghana latest updates and breaking news of ghana. The goal of the nnp is to ensure optimal nutrition of all people living in ghana throughout their. Provisional data released by the ghana statistical service in april, 2017 show that real gdp growth for 2016 was 3. In general, the total budget for the ministry of education, including the getfund, saw an increase of 11. According to the minister, the government is seeking to. Ghana shared growth and development agenda gsgda ii, 20142017 the broad framework for the preparation of the 2016 2018 budget is the ghana shared. Highlights of 2016 budget statement ghana business news. Putting ghana to work macroeconomic perfor mance for 2017 overall real gdp as of june 7. The statistic shows ghana s budget balance in relation to gdp between 2009 and 2018, with projections up until 2021. The composite budget of the talensi district assembly for the 2014, fiscal.
Ghana, a country with a population of about 25 million people, and a land area of 239,000 km2, is west africas second largest economy after nigeria, and africas twelve largest. Consolidated results for fy2016 april 1, 2015 through march 31, 2016 2 consolidated financial position 3 consolidated cash flows 2. Finance minister, seth terkper, has presented the 2016 budget statement to parliament, where he revealed plans to tighten government expenditure going into an election year during which previous governments have overspent their budgets according to mr terkper, the president has assured of sustaining fiscal discipline despite 2016 being an election year. Pwc 2016 budget highlights 2 a nchored on the countrys home grown policies and consolidated by the three year international monetary fund imf extended credit facility ecf programme 20152017, the minister for. Ghana government budget 20042018 data 20192020 forecast.
Primary data training centers for sunyani poly, university of ghana, university of cape coast, knust and st. The budget statement and economic policy of the government of. Please find below a list of comprehensive budget statements spanning 1998 through to 2018. The budget statement and economic policy ghana news ghana.
Mehwish kamran, credential examiner team lead, wes, yigu liang, research associate, wes, and stefan trines, research editor, wenr. After achieving a substantial degree of fiscal consolidation in 2015, ghana missed its 2016 fiscal target by a large margin. Ghana issues 2018 budget statement and economic policy. Nov, 2015 ghana recorded a government budget deficit of 3582. This page provides ghana government budget actual values, historical data, forecast, chart.
Ghana recorded a government budget deficit equal to 3. A new pfm bill is being drafted to be passed into law in 2016 to provide a stronger regime for budget planning and formulation, execution and monitoring. For 2016, crude production from the jubilee is likely to remain about the same as in 2015, or drop slightly to 100,000105,000 barrels per day. Expansion of ghanas nascent oil industry has boosted economic growth, but the fall in oil prices since 2015 reduced by half ghanas oil revenue. Financial summary fy2016 april 1, 2015 through march 31, 2016.
Production from two more fields, ten and sankofa, started in 2016 and 2017 respectively. The availability of budget documents contains a series of four tables that allow the researcher to examine and map the public availability and dissemination of its countrys key budget documents i. The policy document takes its source from national legal documents including the 1992 constitution of the republic of ghana. Summary ghana is a constitutional republic with two spheres of government. Theme putting ghana back to work 1 key highlight of the 2018 budget statement and economic policy theme. The budget statement and economic policy of the government of ghana for the 2016 financial year presented to parliament on friday, th november 2015 by seth e. Following the passage of the income tax act, 2015, act 896 as amended the act in 2015, ghanas finance minister has issued the income tax regulations, 2016, l. It consists of a list of all planned expenses and revenues. Year has been examination bece results for the past two years have been good.
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