The Institute for Fiscal Studies (IFS), says government must focus on addressing the macro-economic fundamentals before it begins to implement its ambitious policy initiatives. The Institute maintains that while the initiatives outlined in government’s 2017 budget were laudable, implementing them without addressing problems with the fundamentals could pose problems. Among the IFS concerns are the … Read more
Economic fundamentals remain weak, and so the 2017 budget lacks a strong foundation, the Institute for Fiscal Studies (IFS) has said, asking the new government to hasten slowly on its ambitious plans. According to the Executive Director of the economic policy think tank, Prof. Newman Kusi, the ambitious nature of the budget which is titled, … Read more
A former Finance Minister Dr Kwabena Duffuor has advised the government to focus on stabilizing the economy this year rather than pursuing growth, since the economic fundamentals are weak. Although he lauded the government’s initiatives introduced in this year’s budget, he said it was necessary for care to be taken in ensuring that the fiscal … Read more
The Institute for Fiscal Studies (IFS) has warned of a potential dip in the quality of education if government fails to identify pragmatic funding sources to sustain its free SHS policy. The Institute says the fundamentals for achieving the objectives require robust and sustainable funds which need to be considered critically. In a post analysis … Read more
The Institute for Fiscal Studies (IFS) has warned of a potential dip in the quality of education if government fails to identify pragmatic funding sources to sustain its free SHS policy. The Institute says the fundamentals for achieving the objectives require robust and sustainable funds which need to be considered critically. In a post analysis … Read more
Labour’s shadow chancellor says the government is in disarray after Theresa May said Budget tax rises would not go before MPs until the autumn. John McDonnell called it a “partial U-turn” over National Insurance increases for self-employed workers. Prime Minister Mrs May defended the change as “fair”, amid a backlash from some Tory MPs and … Read more
The Institute for Fiscal Studies (IFS) says the chancellor was right to raise National Insurance contributions for the self employed in his Budget. The rise will see millions of self-employed workers pay an average of £240 a year more, but ministers say those earning £16,250 or less will pay less. Philip Hammond’s move has been … Read more
An Economist has dismissed the erstwhile NDC administration’s oft-repeated assertion that it borrowed to finance key infrastructural projects. According to a Senior Research Fellow at the Institute for Fiscal Studies (IFS), Dr Said Boakye, it was about time the opposition NDC stopped that claim because the figures do not support it. “You see the reasons … Read more
The Institute for Fiscal Studies, a finance and economic think-tank based in Ghana, says the current practice, whereby expenditure on wages and salaries consumes an increasing share of revenue to the government, is not sustainable, especially given that the size of public sector employment relative to the labour force is declining. Therefore, the rate of … Read more
Newly appointed Commissioner of the Ghana Revenue Authority (GRA), Kofi Nti, has asked staff members of the Authority to support him to succeed in his new role. Mr. Nti made the appeal at a brief handing over ceremony at the premises of the GRA in Accra. “If the new government will succeed, it depends on … Read more
Outgoing Commissioner-General of the Ghana Revenue Authority (GRA), Mr George Blankson, has handed over to a new GRA boss, Mr Emmanuel Kofi Nti, a Tax Policy Advisor. After seven years of heading the tax administration body in Ghana following the integration and modernisation of the three main revenue agencies in December 2009, Mr Blankson bowed … Read more
Banker and Economist, Mr. Emmanuel Kofi Nti has been appointed as the new Commissioner General of the Ghana Revenue Authority (GRA). He takes over from George Blankson. Mr. Emmanuel Kofi Nti who started his career as an Economist with the Bank of Ghana where he worked in the Development Finance, Rural Banking, Banking Supervision and … Read more
The first budget of the ruling New Patriotic Party (NPP) must come out with policies that will reduce the cost of doing business in Ghana and meet the needs of Ghanaians, economists and captains of industry have called. An economist with the Institute for Fiscal Studies (IFS), Mr Leslie Dwight Mensah told this paper, the … Read more
The decision by Nana Akufo-Addo’s administration to finance its flagship free Senior High School policy with petroleum revenues has stirred controversy about the usefulness of the Ghana Heritage Fund (GHF), originally meant for future generations when the oil resources run out. Proponents of the amendment of the Petroleum Revenue Management Act (Act 815), such as … Read more
The government has conceded that the economic challenges confronting the country are daunting but has given its strongest assurance yet that it will surmount them and propel the nation to economic prosperity. The Senior Minister, Mr Yaw Osafo-Maafo, who gave the assurance, said the government would work assiduously to lay the foundation for economic growth … Read more
If government would not ensure adequate and timely transfers to its statutory funds, then it must as well collapse them, the Institute for Fiscal Studies (IFS), has said, calling for a review of the whole practice of earmarking portions of government revenue to meet statutory obligations. The District Assemblies Common Fund, established under article 252 … Read more
A Former Governor of the Bank of Ghana(BoG) Dr. Kwabena Duffour has criticized the erstwhile John Mahama government for investing the proceeds from the Heritage Fund into short term instruments. According to him, such a move defeats the purpose for setting up the fund since it is meant for future consumption. The Heritage Fund which … Read more
A Former Governor of the Bank of Ghana(BoG) Dr. Kwabena Duffour has criticized the erstwhile John Mahama government for investing the proceeds from the Heritage Fund into short term instruments. According to him, such a move defeats the purpose for setting up the fund since it is meant for future consumption. The Heritage Fund which … Read more
A former Finance Minister Dr. Kwabena Duffuor is urging Parliament to ensure transparency in the management of Ghana’s oil revenue. This comes as government readies to gain from the benefits of the new oil fields of Tweneboah-Enyira-Ntomme (TEN) in the next few months. The Public Interest and Accountability Committee (PIAC) in its last three reports … Read more
The Institute for Fiscal Studies has held a pre-budget forum to among others, highlight key issues that need prominence as Finance Minister Ken Ofori-Ata prepares to present the 2017 budget of Ghana. The forum also looked at the several promises of the governing New Patriotic Party and how the implementation of these promises will likely … Read more