Parliament has approved a loan amounting to eleven (11) billion Ghana Cedis to construct a new brigade across the Volta River at Volivo on the Eastern Corridor Road. The chairman of the committee who moved the motion on the floor of Parliament yesterday announced that the maturity period for the payment of the loan is … Read more
Minority in parliament has criticised the President Mahama led National Democratic Congress (NDC) government over a high interest loan facility being offered to the Electricity Company of Ghana (ECG). As parliament approves a $60 million loan facility aimed at improving efficiency of the ECG, minority legislators have raised red flags describing the interest rate at … Read more
Four loans sent to Parliament by government have been approved by the 275-member body. Parliament, which is expected to break on Thursday, November 3, 2016 for the December 7 polls is said to have given the approval for four loans within two hours in the House on Monday. The four loans included an 11 billion … Read more
Ghana’s Parliament has approved a loan agreement worth ¥11billion for the construction of a bridge at Volivo across the Volta River on the Eastern Corridor road within the Volta Region. The Chairman of the Finance Committee, James Kludze Avedzi announced this on the floor of parliament on Monday October 31. According to him, the new … Read more
A member of the Finance Committee of Parliament, Dr. Mark Assibey-Yeboah has questioned the GH¢1.9 billion to be expended on interest payments for the first quarter of next year, out of a total expenditure of GH¢10.9 billion. Dr. Assibey-Yeboah, who is also the MP for New Juaben South, comments follow Parliament’s authorization of government to … Read more
A Senior Economics Lecturer at the University of Ghana, Legon, has raised concerns over government’s continuous borrowing strategy, warning the economy could suffocate under high indebtedness. Dr. Eric Osei-Assibey says allocations in the recently approved budget for the first quarter of 2017 shows interest payments takes a chunk of government revenue, a situation he says … Read more
Government has projected that for the first quarter of next year it will spend GH¢1.88 billion on interest payments, an amount which is 50 percent more than the planned expenditure on capital or infrastructural projects within the said period. According to the expenditure estimates for the first quarter of 2017, government will commit GH¢1.25 billion … Read more
Government is expected to cough about GHC1,889,870,741 to pay interest on loans in the first quarter of 2017 calendar year. This revelation came to light on the floor of Parliament on Thursday, 20 October, 2016 when the Parliament approved a whopping GHC10.9 billion for the country’s expenditure in advance appropriation to help finance “critical government … Read more
Government missed its budget deficit target in the first seven months of 2016 as the government raised less revenue than forecast and exceeded spending plans for goods, services and capital expenditure. An overall budget shortfall of 3.5 percent of gross domestic product was recorded from January through July as against the target of 3 percent. … Read more
The Minority in parliament has criticized government for not investing in critical sectors of the economy in its expenditure of the Appropriation Bill. The Appropriation Bill which was approved by parliament yesterday is in line with constitutional requirement to provide funds for an incoming government for the first three months after an election. Out of … Read more
Economist, Dr. Lord Mensah has criticized the almost 2 billion cedis budget deficit in the advance expenditure appropriation presented by the Minister of Finance, Seth Terkper. Parliament, on Thursday, October 20, approved the 10.99 billion cedis request by the Finance Minister. This also came after several deliberations both at the Finance Committee level and on … Read more
The Government of Ghana will spend GHC1.8 billion on loan interests alone in the first-quarter of 2017, MP for the New Juaben South constituency, Dr Mark Assibey Yeboah has said. Parliament on Thursday, 20 October approved a request of GHC10.9 billion from government for the first-quarter of next year to help finance critical government expenditure … Read more
Ghana’s Parliament has approved a GHC10.9 billion request by the government to help finance “critical government expenditure” in the first quarter of 2017. This follows the recommendation for the approval of the budget by the Finance Committee of Parliament. The request for this amount was in line with Article 180 of the 1992 Constitution and … Read more
Parliament has adjourned the delivery of the first quarter budget of the 2017 financial year to November. According to TV3‘s correspondent Rabiu Alhassan, the decision may have been informed by the low number of attendance in the House. Minister of Finance Seth Emmanuel Terkper was scheduled to read the 2017 budget for January to March … Read more
The Minister of Finance, Seth Terkper, is expected in Parliament today, October 20, 2016 to present an advanced budget covering government spending for the first quarter of 2017. The move has become necessary because of the December 7 polls and the need to prevent overspending in case of a transition in government. Mr. Terkper would … Read more
The Kufuor administration and the New Patriotic Party (NPP) wasted reliefs from the Highly Indebted Poor Country (HIPC) initiative on “tiny toilets,” the governing National Democratic Congress’ Campaign Spokesperson, Mrs Joyce Bawa Mogtari has said. Berating a press conference organised by the NPP flag bearer’s Policy Advisor, Boakye Agyarko, on Monday, which accused the Mahama … Read more
Former Minister of State and Ranking Member on the Finance Committee in Parliament says the vice president, Amissah Arthur has shown total ignorance with his response to Dr Bawumia’s recent lecture on the economy. In an interview with Ekourba Gyasi on Atinka AM Drive, Dr. Anthony Akoto Osei mentioned that he did not expect the … Read more
The Member of Parliament for Ketu North and the Chairman of the Finance committee in Parliament, has questioned the credibility of the assessment of the economy by the New Patriotic Party’s vice presidential nominee, Dr. Mahamadu Bawumia. According to Dr. James Klutse Avedzi, although he is not an economist, his background in finance tells him … Read more
Economist, and member of the Finance Committee in Parliament, Dr. Anthony Akoto Osei has defended the legislature’s decision to cap the Bank of Ghana (BoG) financing of government budget at 5 percent. His defense follows a press statement issued by the IMF over the weekend expressing dissatisfaction at some legislations passed by the House recently. … Read more
The Bank of Ghana will now be able to finance government’s budget at five percent following the passage of the BoG Amendment Act which is now awaiting Presidential Assent. “I cannot really speak on that particular issue, that is, in terms of what actually informed the parliamentarians to keep the financing bit at 5% of … Read more