Disappointing revenue performance and increased capital expenditure have pushed up the country’s fiscal deficit to more than GHC4.69 billion as of the end of July this year, creating uneasiness among businesses as the country heads to the polls in December. The deficit, which is GHC1.7 billion more than what the government had planned for the … 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
Moody’s Investors Service (“Moody’s”) has affirmed the Government of Ghana’s issuer and senior unsecured rating at B3 and changed the outlook to stable from negative. The key drivers of Friday September 23 rating action are: (1) Significant fiscal deficit reduction and institutional reform implementation over the past year under the umbrella of the 3-year IMF … Read more