The President of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo, has welcomed the €82.5 million support offered to Ghana by the European Investment Bank (EIB) to strengthen healthcare, provision of specialist medical equipment and medicines across Ghana under the national COVID-19 Health Response Plan. The concessional financing package, which comprises a €75 million facility …
Government secured ¢923.79 million from the latest issuance of the 5-year bond, auctioning results from the Bank of Ghana has revealed. But that came at a higher cost of 21%. The Government accepted all the bids of ¢923.79 million from the investors. But the cost of the debt instrument was above the initial pricing guidance …
The month of November 2021 recorded the highest rate of inflation of 12.2% since the rebasing of the Consumer Price Index was done in 2019, the Ghana Statistical Service has indicated. This indicates that prices of goods and services witnessed upward adjustment during the period, a situation that will push interest rates and consequently cost …
The Institute of Statistical, Social and Economic Research (ISSER) at the University of Ghana is calling on government to review the 1.75 percent proposed Electronic Levy (E-Levy) in next year’s budget which has been ‘rejected’ by Parliament, saying the rate is overly punitive. In its post budget analysis, Director of ISSER, Professor Peter Quartey, said …
…..as inflation bares teeth Quartey says it is right decision for now The Monetary Policy Committee of the Bank of Ghana has, for the first time since May 2018, hiked the policy rate by a 100 basis points, citing inflationary pressures as the main reason. Inflation for October climbed above the medium-term target band of …
The Institute of Economic, Statistical and Social Research (ISSER) at the University of Ghana is calling on government to turn its attention to efficiency in collection of taxes as a means of improving the revenue situation, rather than introducing new ones or increasing those existing. As of the second quarter of the year, data from …
The year-on-year inflation rate for October rose to 11.0 per cent, up 0.4 percentage points from 10 to 6 per cent recorded in September 2021. Professor Samuel Kobina Annim, the Government Statistician, at a press conference on Wednesday, said the October inflation rate was the highest in the last 15 months. He said housing, water, …
Despite being one of the largest and reliable sources of revenue to the government of Ghana, tax revenue collection in Ghana is constrained by many factors. The tax to GDP ratio of Ghana remains far below what the government targets to achieve by 2023. The Government of Ghana’s target is to achieve tax to GDP …
…but still lags behind consumer price increases Further evidence that inflationary pressures are intensifying across the Ghanaian economy emerged last week with the revelation that Producer Price Inflation (PPI) for September 2021 was 8.8 percent – up from 8.1 percent in the previous month – according to new data released by the Ghana Statistical Service …
Last week the latest inflation data from the Ghana Statistical Service Consumer pointed to a new emergent problem: price inflation has exceeded the 10 percent target band ceiling set by the Bank of Ghana as in September 2021 it recorded the highest inflation rate of 10.6% since the economy started picking up from the effects …