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.
The Country Representative of the International Monetary Fund (IMF) Albert Touna Mama has said mounting public debt before the Covid-19 pandemic has exacerbated the impact of the virus on sub-Saharan African countries like Ghana.
Energy sector players are pushing for a paradigm shift in the industry post-Covid-19, whereby African countries will embark on massive infrastructural investment to ensure they can weather a future pandemic situation like the world is facing now.
More than US$4.7bn worth of projects lined up in Ghana’s hydrocarbons sector have been postponed indefinitely after the coronavirus scourge decimated the oil market and dampened investors’ appetite, the Chief Executive Officer of the Petroleum Commission, Egbert Faibille Jnr., has said.