Arrears are about GH¢7bn. Deficit is 10.3% on a commitment basis. – Ofori-Atta
Our goal is to build the most business friendly economy in Africa. – Ofori-Atta
Growth is 3.6%. The lowest in over two decades. – Ofori-Atta
Challenges include corruption and high debt service payments. – Ofori-Atta

 

Minister Designate for Finance, Ken Ofori-Atta

We will broaden the tax base while reducing and abolishing some taxes. – Ofori-Atta #GHBudget17
We will ensure fiscal discipline, transparency and accountability. – Ofori-Atta #GHBudget17
Gov’t will ensure debt sustainability. We will work to reduce the amount of gov’t borrowing. – Ofori-Atta
Interest payments of GH¢10.8bn was about 5 times the allocations to 6 ministries. – Ofori-Atta #GHBudget17
Each constituency will be allocated $1m to combat poverty. – Ofori-Atta #GHBudget17
We will shift the focus of economic management from taxation to production. – Ofori-Atta #GHBudget17
1 District, 1 Factory will ensure industrialisation. The Zongo Dev’t Fund & Free SHS will be rolled out. – Ofori-Atta #GHBudget17
Nurses and teachers under training will have their allowances restored. – Ofori-Atta #GHBudget17
There is every reason to be optimistic. Ghanaians are ready and they have a gov’t that is ready. – Ofori-Atta #GHBudget17
We cannot borrow our way out of these challenges. We must be in a hurry to grow our way into prosperity. – Ofori-Atta #GHBudget17
We will continue with the IMF programme. – Ofori-Atta #GHBudget17
Oil prices have picked up and are expected to average $55, 28% higher than in 2016. – Ofori-Atta #GHBudget17
Global growth will improve in 2017. 3.4% growth is projected by the IMF compared with 3.1% in 2016. – Ofori-Atta #GHBudget17
Oil prices have picked up and are expected to average $55, 28% higher than in 2016. – Ofori-Atta #GHBudget17
Ghana joined 9 other countries to implement the ECOWAS Common External Tariff (CET). – Ofori-Atta #GHBudget17
We are monitoring the effect of the CET on the local economy. – Ofori-Atta #GHBudget17
Growth is estimated at 3.6% in 2016. Services continues to dominate. Inflation slowed down to 15.4%. – Ofori-Atta #GHBudget17
The cedi remained largely stable in 2016 until the elections. The balance of payments was surplus for the first time since 2016. #GHBudget17
Yields on short-term government instruments decreased while those on long-term instruments increased. – Ofori-Atta #GHBudget17
Revenue shortfall was due to energy challenges, oil production disruption and weak tax compliance. – Ofori-Atta #GHBudget17
Fiscal consolidation was not achieved in 2016. Slippages resulted in a deficit of 10.3% on commitment basis, 8.7% on cash basis. #GHBudget17
$277m in reserves covers 3 months of import cover. – Ofori-Atta #GHBudget17
Debt stock is GH¢122.3 bn. – Ofori-Atta #GHBudge2017
Petroleum receipts from liftings was $207.79m. – Ofori-Atta #GHBudget17
We will build a business friendly economy to create jobs, modernise agriculture and a social protection system. – Ofori-Atta #GHBudget17
Our policy direction will be to restore and sustain fiscal stability. – Ofori-Atta #GHBudget17