Former Finance Minister Seth Terkper has said that the expenditure related to the coronavirus pandemic should not be solely considered as responsible for the widening fiscal deficit but rather what is driving the debt is the funds used to resolve financial institutions and energy sector debt which were excluded...
Huge revenue losses associated with the outbreak of COVID-19 and projected losses due to the impact of the pandemic has pushed government to downgrade its Gross Domestic Product (GDP) growth from 6.8 percent to 0.9 percent.
This was announced by the Minister of Finance Ken Ofori Atta during the presentation...
The Minister of Finance, Ken Ofori Atta, has announced that plans are advanced for the launch of a GH₵100 billion development programme aimed, among others, to revitalize the local economy, at the back of the difficulties brought by the outbreak of the coronavirus pandemic.
The three and half years programme,...
Former Finance Minister Seth Terkper has demanded that the government presents accurate and transparent data about the economy’s true situation - especially with respect to the deficit figures as it prepares to present the mid-year budget this week.
His comments come on the back of concerns raised by the minority...
Nigerian banks plan to restructure over a third of loans after running into repayment problems due to the coronavirus pandemic, a member of the central bank monetary policy committee said.
A total of 17 banks have submitted requests to restructure over 32,000 loans for businesses and individuals, representing 33% of...
Just like every other sector, the country’s banking industry could not escape the devastating impact of the coronavirus pandemic, as new data from the regulator shows declining profit growth rate and escalation in operating expenses.
The Banking Sector Report (May 2020) reveals that the industry’s profit-after-tax outturn was GH¢960.4 million...
The Auditor-General (A-G) has submitted a report on the Management of Petroleum Funds for 1st January 2018 to 31 December 2018 to Parliament.
A statement signed by Mrs Ama Awoe-Bosumafi Assistant Director of Public Relations Unit on behalf of the Director General, and copied to the Ghana News Agency, in...
Despite the coronavirus pandemic biting economies around the world hard, with many seeing a contraction - especially the developed ones, Ghana’s economy was able to withstand the destructive power of the disease, as it rather experienced growth; albeit slower than same period the previous year – thanks to the...
Budget deficit and its accompanying debt are key indicators in accessing the health of any economy. At the end of March 2020, Ghana’s public debt reached GHȼ 236.1 billion according to the Bank of Ghana. Of the total debt, US$ 22.9 billion is external representing 31.4% while GHȼ 113...
The general price levels of goods and services, according to Ghana Statistical Service, have further increased in the month of May - following price hikes by traders due to the coronavirus pandemic effects.
General prices increased by 0.7 of a percentage point over the previous month, as it recorded 11.3...