UPDATES: Finance Minister presents 2018 Budget

| Updated Nov 15, 2017 at 2:52pm

 

 

I would just like to state that Jobs are here, 'Adwuma reba' - Ken Ofori Atta

With the little we inherited from the previous government, our performance these 10 months are indeed nothing less than a miracle - Ken Ofori Atta

Mr Speaker, we have fulfilled our promises - Ken Ofori Atta

We promised to reduce electricity tariffs and we are on course to deliver - Ken Ofori Atta

We promised to establish a Zongo Development Fund and we are delivering - Ken Ofori Atta

We promised to reduce the rapid rate of borrowing/interest rates and we have delivered - Ken Ofori Atta

We promised to end 'dumsor' and we have delivered - Ken Ofori Atta

Empowering women and achieving gender equality is fundamental to the achievement of SDG goals - Ken Ofori Atta

Government will introduce an ADR mechanism to resolve tax disputes to boost investor confidence - Ken Ofori Atta

Ghana will designed the requisite financial architecture - Ken Ofori Atta

Government will improve tax compliance to improve domestic resource mobilisation - Ken Ofori Atta

In 2018, efforts will be geared towards keeping the lights on at affordable rates to consumers particularly industries - Ken Ofori Atta

'Dumsor' reduced investor confidence in Ghana - Ken Ofori Atta

We have all too soon forgotten how the menace of 'dumsor' from 2012 to 2016 crippled the economy - Ken Ofori Atta

In the interim, government has attracted investor interest in the rail sector- Ken Ofori Atta

After 8 years of inaction, the national identification card has been revived- Ken Ofori Atta

One-District-One-Factory: In 2018, government will allocate a minimum of 2 million to each district - Ken Ofori Atta

Paperless port system has reduced transaction time at Ghana's ports - Ken Ofori Atta

We envision a Ghana beyond aid where government and the people of Ghana take over full ownership. A Ghana where no one has to go hungry - Ken Ofori Atta

Government will explore the possibility of weaning selected health agencies off government subvention- Ken Ofori Atta

Maternal deaths reduced from June 2016 to June 2017 - Ken Ofori Atta

Government restored the teacher trainee allowance covering about 49,000 trainees - Ken Ofori Atta

The number of basic schools, both private and public, increased at all levels - Ken Ofori Atta

The Akufo-Addo government maintained the producer price of cocoa - Ken Ofori Atta

Army worm invasion has been managed through distribution of chemicals to farmers - Ken Ofori Atta

Our flagship Planting for Food and Jobs programme has been a tremendous success - Ken Ofori Atta

In 2018, the primary balance will see growth - Ken Ofori Atta

Payroll reforms will be undertaken - Ken Ofori Atta

The object of the statutory fund is to provide secure funding - Ken Ofori Atta


Currently, the wage bill poses a single major risk - Ken Ofori Atta


This budget is informed by the president's coordinated program for economic and social development policies - Ken Ofori Atta

One of the challenging economic situation that the government inherited was a ballooning debt stock - Ken Ofori Atta

A total amount of 3.2 billion was programmed for clearance in 2017 - Ken Ofori Atta

We are now seeing a new commitment in public procurement to protect the public purse - Ken Ofori Atta

The real truth is that as Ghanaians, we are not paying our taxes and we are helping others to evade taxes - Ken Ofori Atta

Real GDP for 2017 recorded a growth of 7.9% - Ken Ofori Atta

The cedi [¢] remained relatively stable in 2017- Ken Ofori Atta

Interest rate in 2017 continued to decline - Ken Ofori Atta

Inflation continued to decline in 2017 - Ken Ofori Atta

We are returning to a robust growth after 2016 recorded worst performance - Ken Ofori Atta

It is time for Ghanaians to arise and build - Ken Ofori Atta

The theme for the 2018 budget is 'Putting Ghana back to work' - Ken Ofori Atta

Ghana is taking a leadership role with this budget - Ken Ofori Atta

For us the fight against poverty and unemployment is not optional. It is a national security issue - Ken Ofori Atta

We have indeed restored the Nurses, teacher training allowances - Ken Ofori Atta

We have achieved strict implementation of PFM - Ken Ofori-Attah

We have indeed provided electricity supply. Our SHS students have forgotten how to spell 'Dumsor'. Mr Speaker, 'Dumsor' is dead.

Energy bond highest in W. Africa

Government adds a total of 445MW power capacity to the country’s installed generation capacity bringing the total capacity to 4,577MW.

Government well on course to end the year on a fiscal deficit of 6.3 percent from 9.4%.

Ghana’s debt-to-GDP (Gross Domestic Product) ratio reduced to 63.8 percent

Electricity tariffs cut by 13% -

Residential reduced by 13 %,
Non Residential 13%,
Special Load Tariff- Low Voltage 13%,
Special Load Tariff - Medium Voltage 11%,
Special Load Tariff -High Voltage 14%
High Voltage Mines 21%.

Over 3,000 have been employed under Planting for Food & Jobs - A total of 2,160 university graduates and 1,070 youth.

2017 revenue target 9.3% short - Total revenue and grants for 2017 amounted to GHS28, 429.2 million which is equivalent to 14.1 per cent of Gross Domestic Product (GDP) as against the target of GHS1, 346.4 million.

Government promises Tax holiday for under-35 entrepreneurs.

Total petroleum receipts as of September 2017 was US$362.58 million

Total Crude oil Revenue target for 2018 to be 669.4 Million Dollars

Each District to get 2 million cedis to implement 1D1F Programme

Nation Builders Corps to be introduced in 2018

Nation Builders Corps to hire 100,000 graduates in 2018

Nearly All macro-economic indicators on target

Government to increase BECE Subsidy from 70% to 100%

Government will grant relief from corporate income tax paid by privately-owned and managed universities.

National Development Bank To Be Established

Government to build 200K household toilets

IMF Programme to be concluded at the end of December 2018.

Minister of Finance, Ken Ofori Atta presents the 2018 Budget Statement & Economic Policy in Parliament. It is live on GTV, GBC24, GTVGovern #Budget2018



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