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The finance minister, Ken Ofori Attah presents the mid-year budget review today in parliament.
The event has been strongly welcomed with various reactions especially on the prediction of hikes in taxes.
Here is a live update from parliament…..
The NPP government inherited an economy in despair- Ofori Attah #midyearbudgetreview
IMF program was derailed under, we brought the program back on track- Ofori Attah. #midyearbudgetreview
We have supported 200 000 in fertilizer and seeds- Ofori Attah. #midyearbudgetreview
Electricity tarriffs have been reduced by 17 %- Ofori Attah. #midyearbudgetreview
Cedi fall due to external pressures- Ofori Attah. #midyearbudgetreview
There will be no increase in VAT- Ofori Attah. #midyearbudgetreview
Non oil GDP grew by 5.6%-Ofori Attah. #midyearbudgetreview
Current cedi depreciation best since 2012-Ofori Attah. #midyearbudgetreview
This is the first time debt to GDP has declined- Ofori Attah. #midyearbudgetreview
GDp growth rate of 6%-Ofori Attah. #midyearbudgetreview
Year on year growth of 17.5%- Ofori Attah. #midyearbudgetreview
Interest rate trended downwards-Ofori Attah. #midyearbudgetreview
Ghana cedi remained relatively stable- Ofori Attah. #midyearbudgetreview
BOG made appropriate interventions to further stabilize the cedi- Ofori Attah. #midyearbudgetreview
Total revenue amounts to 7.2 percent of GDP- Ofori Attah. #midyearbudgetreview
Our goal is to grow the productive sector of the economy-Ofori Attah. #midyearbudgetreview
External debt amounted to 71.6% billion- Ofori Attah. #midyearbudgetreview
Oil revenue now 2.1 billion cedis for the period- Ofori Attah. #midyearbudgetreview
30 year Eurobond pegged at 8.62%- Ofori Attah. #midyearbudgetreview
Eurobond of 2 billion dollars for he period- Ofori Attah. #midyearbudgetreview
Lower than anticipated domestic revenue- Ofori Attah. #midyearbudgetreview
Fiscal deficit of 11.8 billion cedis- Ofori Attah. #midyearbudgetreview
Total expenditure has been revised downwards- Ofori Attah. #midyearbudgetreview
Government has since 2017 removed taxes that were inimical to production- Ofori Attah. #midyearbudgetreview
We will deepen tax compliance from 11%- Ofori Attah. #midyearbudgetreview
Tax evasion offenders will be prosecuted- Ofori Attah. #midyearbudgetreview
1.4 million new TIN registration has been taken- Ofori Attah. #midyearbudgetreview
GRA has improved filing rate- Ofori Attah. #midyearbudgetreview
Introduction of luxury vehicle levy-Ofori Attah. #midyearbudgetreview
Government considering possible outsourcing payroll of its employees-Ofori Attah. #midyearbudgetreview
Medium term policies to outline revenue reforms- Ofori Attah. #midyearbudgetreview
Implementing youth enhancing policies-Ofori Attah. #midyearbudgetreview
Government will continue with the implementation of free SHS- Ofori Attah. #midyearbudgetreview
300 million cedis has been released to support the nation’s builder corp- Ofori Attah. #midyearbudgetreview
177 million was allocated for payment of teacher trainee allowance- Ofori Attah. #midyearbudgetreview
We have to speak one language to execute the transformation we seek- Ofori Attah. #midyearbudgetreview
Ghana paid off 6 billion of inherited debt- Ofori Attah. #midyearbudgetreview
Revenue shortfalls of 2018 was 1.42%- Ofori Attah. #midyearbudgetreview
12 million has been released to pay nursing training allowance- Ofori Attah. #midyearbudgetreview
Our approach is building an integrated road network- Ofori Attah. #midyearbudgetreview
We must address both demand and supply side of housing- Ofori Attah. #midyearbudgetreview
We are confident and have a well established on a growth plan- Ofori Attah. #midyearbudgetreview
NPP government has not wavered in its promise to Ghanaians- Ofori Attah. #midyearbudgetreview
A social partnership to establish a wiser society is underway- Ofori Attah. #midyearbudgetreview
Every single cedi will be spent with the development of Ghana in mind- Ofori Attah. #midyearbudgetreview
