…as Parliament approves Financial Account Information bill
Parliament has given legal backing to a new bill that will enable the Ghana Revenue Authority (GRA) to exchange information with other tax administrations in the world regarding certain financial accounts of entities or individuals, in a bid to curb tax evasion.
The bill,...
To ensure an increase in export volumes and draw more foreign investment into the country, government is strengthening supply chains of exportable products through the Coconut Export Revitalisation Project.
“Our key vision under the current export strategies for the agricultural sector is to diversify our export base to ensure we...
The final report of the West Africa Growth Ring Corridor Master Plan (WAGRIC) that contains the action plans and strategies aimed at achieving spatial and economic integration of the sub-region has been presented.
The plan aims at enhancing infrastructural and transport connectivity between Ghana, Togo, Burkina Faso and Cote d’Ivoire,...
Ghana’s inflation rate for February 2018 has gone up by 0.3% bring the rate to 10.6 per cent, up from the 10.3% recorded in January 2018.
The monthly change rate for February 2018 was 0.9%, compared to the 1.4% recorded for January 2018.
According to a release from the Ghana Statistical...
interest payments to surpass wages and salaries
Ghana’s debt situation is such that out of every cedi collected in taxes by the Ghana Revenue Authority (GRA), 42 pesewas - almost half - is used to pay interest on the country’s debt; taking resources away from critical sectors, analysis by...
A consultant to the Ghana Alternative Market (GAX), David Tetteh, has advised against the practice wherein companies only approach the capital market as a last resort when they are in distress.
Against the backdrop that access to credit has been the bane of many businesses in the country, he noted...
The Institute of Fiscal Studies (IFS) has warned that, Ghana risk becoming a distress country if the rising debt stock is checked.
According to the IFS, measures need to be put in place by government to arrest the “seriously worsening” debt situation which portends ill consequences for the economy.
This warning...
Most economic forecasters have largely shrugged off recent advances in artificial intelligence (for example, the quantum leap demonstrated by DeepMind’s self-learning chess program last December), seeing little impact on longer-term trend growth. Such pessimism is surely one of the reasons why real (inflation-adjusted) interest rates remain extremely low, even...
Consumers are now more confident in the economy and think it is the opportune time to buy the things they need, the latest Nielsen Consumer Confidence Index (CCi) has shown.
According to the West Africa Consumer Confidence Index (CCI) figures released by Nielsen for Quarter-4, 2017, Ghana climbed eight points...
