Finance Minister Ken Ofori-Atta presents Mid-Year Economic Review Budget

Highlights: #MidYearBudget2018

Finance Minister Ken Ofori Atta says the cedi is under pressure due to external factors.

Presenting the Mid year Budget to parliament on Thursday, Mr. Ofori Atta said the performance of the Ghana economy has been impressive in the last six (6) months.

"We will ensure tax compliance and plug existing holes"

He has admonished that people should stop taking economic directions from social media.

"We are rolling out major initiatives to improve tax compliance"

"First time GDP ratio has decline since 2006"
"Economy continues to remain robust"

"Ghana Cedi remains stable due to improved macro-economic conditions"

"BoG has made interventions so Cedi to remain stable for the rest of the year"

"We are confident Cedi will remain stabe throughout the year."

"Gross public  debt stood at 154 billion representinting 89% of GDP"

"Revenue shortfall was 1.42% as at jan -may 2018"
"New tax measures estimated to raise 1,345 million cedis."

According to the Finance Minister, "In 2017 gov't removed taxes that were inimical to production."

He also disclosed that govt will introduce VAT Attack Force

Tin numbers have increased from 14,00 to 112,000

"GRA has commenced big data analytics."

"3 litres and above luxurious cars to attract extra tax". "Commercial vehicles exempted"

"Govt to resource govt payroll processing"

"50000 warehouses to be constructed to support planting for food and jobs programmes."

"Govt to subsidise loans for 1d1f loans by 10%...... Free SHS continues"

"We are well established on a sustained growth path"

Gov't will fulfill all its promises to Ghanaians, that's according to the finance Minister Ken Ofori Atta


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