Business in Ghana

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Posts Tagged ‘Ghana Budget 2011’

Looking Forward to a Forward Looking Budget

Posted by Business in Ghana on November 14, 2011

By Sydney Casely-Hayford, Sydney@bizghana.com

This year’s budget must focus on generating enough revenue to meet our expenditures and more.  The 2011 budget targeted ghc10.6billion in revenue, adjusted in August with an supplementary ghc1.3billion to the end of the year.  On the flip side, expenditure was planned for ghc12.7billion and supplemented with ghc0.9million. This reduced the budget deficit gap by ghc0.5billion, leaving a financing gap of ghc1.5billion.  We plan for our friendly donors to help us finance the deficit.

This year must be different.  We have a lot more with which to plan. Read the rest of this entry »

Posted in Financial Services, Sydney Casely-Hayford | Tagged: , , , , , | Leave a Comment »

What Can Previous Booms Tell Us About the New Oil Boom?

Posted by Business in Ghana on December 25, 2010

Courtesy of IMANI-Ghana (www.imanighana.org) & www.AfricanLiberty.org

Ghana’s turnaround after nearly two decades of military misrule began with the reforms of the late 80s.

Though, today, many consider these reforms – driven mainly by the so-called Bretton Woods institutions – to have achieved next to nothing in terms of socio-economic transformation, even their worst critics agree that at the time they were an essential element in the process of arresting Ghana’s terminal decline. Read the rest of this entry »

Posted in Financial Services, Franklin Cudjoe | Tagged: , , , , , | 1 Comment »

So why all the Fuss about Ghana’s 2011 Budget?

Posted by Business in Ghana on November 28, 2010

Courtesy of IMANI (www.imanighana.org) and AfricanLiberty.org

Ghana’s latest budget has been met with uproar in some quarters.

There is no dismissing or diminishing the fact that under trying circumstances the ruling government has been working hard to balance its books and stabilise the economy.  There may be some disputes over the precision of measurements and accounting conventions, but the evidence does point to some clear successes on the macroeconomic front.

The strengthening cedi has of course led to a significant boost in imports, but in real terms (accounting for inflation) the increase is in line with recent trends in the current account, and is thus not exactly scary (which is what you would expect if the currency had been artificially overvalued). Read the rest of this entry »

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