The Minister for Information, Kojo Oppong Nkrumah, says the GHS 21bn reduction in the government’s appropriation for the 2023 fiscal year is commendable. Contributing to the statement on the mid-year budget presented by Finance Minister Ken Ofori-Atta on Monday, July 31, 2023, Mr. Nkrumah said though calls remain for further budget cuts, the mid-year 21bn cut is commendable. “I think …

GH¢60bn loss: We’ve not been reckless – BoG fights back

During the 2023 Mid-Year Budget Review in Parliament on July 31, Finance Minister Ken Ofori-Atta emphasized the significance of the controversial Domestic Debt Restructuring Programme (DDEP). He highlighted that the program has granted the government greater fiscal flexibility and aided in addressing cash and liquidity constraints. The Minister expressed gratitude to all bondholders who participated in the program, which involved three months of negotiations …

The government has revised its 2023 appropriation from ¢227.7 billion, as previously presented and approved in November 2022, to ¢206.0 billion. This adjustment is in accordance with Regulations 24 sub-regulation (3) of Public Financial Management Act Regulations 2019 (L.I. 2378). The revision was made due to two primary reasons. First, there were lower domestic interest payments and amortization following the …

Finance Minister, Ken Ofori-Atta, Acknowledges 2022 as His Toughest Year in Managing Ghana’s Finances During the presentation of the 2023 mid-year budget review in Parliament on Monday, July 31, Mr. Ofori-Atta revealed that 2022 proved to be the most challenging period for him as Ghana’s Finance Minister. He attributed this difficulty to the aftermath of the COVID-19 pandemic, which posed significant …

The Minister for Finance, Ken Ofori-Atta has said the government has settled all arrears owed to caterers under the School Feeding Programme for the second and third terms of the 2022 academic year and the first term of 2023. Mr. Ofori-Atta disclosed this while addressing Parliament on behalf of President Akufo-Addo on the mid-year budget review on Monday, July 31, …

The Minister for Finance, Ken Ofori-Atta has said the government has progress in restoring the macroeconomic stability of the country. Address Parliament on the mid-year budget review on Monday, July 31, 2023, the Minister stated that with the approval of Parliament, the government set out to achieve key macroeconomic targets for 2023 namely Overall Real GDP growth of 2.8 percent; Non-Oil Real …

The Finance Minister, Ken Ofori-Atta, says the Nana Addo Dankwa Akufo-Addo government will not ask Parliament for any additional money. The Finance Minister made these remarks when he presented the mid-year budget review in Parliament on July 31. The Finance Minister explained that, the progress made in non-oil tax revenue collection within the year necessitated his comment on Government not asking …

More than GH¢15.1 billion irregularities have been uncovered in the operations of public boards, corporations and other statutory institutions for last year, the 2022 Auditor-General’s report has found. The amount represents a 13.86 per cent or GH¢2.4 billion reduction from the 2021 figure of GH¢17.48 billion. It is important to note that last year’s irregularities were made up of more …

A seeming frosty relationship between the Minister for Local Government and Rural Development, Daniel Kwaku Botwe and the Administrator of Districts Assemblies Common Fund (DACF), Irene Naa Torshie Addo-Lartey has landed on the desk of the President. The move follows recurring disagreements between the two top government appointees over the disbursement of the Common Fund resulting in the sector minister …