The shortfall in actual airport taxes realised for the first half of the year has eroded government revenue, pushing the Ghana Airports Company and other agencies that draw funding from airport tax receipts to the brink.
Finance Minister Ken Ofori-Atta has revealed that more than 64,000 small businesses have received financial support to help alleviate the economic impact of the COVID-19 pandemic.
The Ranking Member of Parliament’s Finance Committee, Cassiel Ato Forson, says continuous borrowing by government will not only increase the public debt but hurt the economy.
The mid-year budget review expected to be delivered by the Finance Minister on Thursday to the legislature does not present an opportunity to account for the Coronavirus Alleviation Programme (CAP) funds, chairman of Parliament’s Finance Committee, Dr. Mark Assibey-Yeboah, has said.
Finance Minister Ken Ofori-Atta will tomorrow deliver the 2020 mid-year budget review, which will unveil the government’s most detailed economic response yet to the COVID-19 pandemic.
A former Finance Minister in the Mahama-led administration, Seth Terkper, is urging Ken Ofori-Atta, the current Minister of Finance, to use the upcoming mid-year budget review to disclose some “hidden†expenditure driving up the country’s budget deficit.
Parliament has approved a total of $2.068 million tax waiver on machinery, equipment and raw materials to be procured by three companies under the One District One Factory (1D1F) Programme of the Government.
Ghana’s electricity export in 2019 reached the highest level in two decades, with 1,430 Gigawatt hours (GWh), representing 7.9 percent of total electricity generation, exported to neighbouring countries, the Energy Commission’s National Energy Statistics report has revealed.
