With misfortunes of the early 2020s finding their way into 2023, it is not uncommon for people to predict continued economic hardship in the new year of 2024. Two weeks into the new year and the Gaza Strip war has already escalated to epic proportions. Thus, it is not strange to expect doom on the […] The post Trade expert predicts
Fiscal space, in its simplest form, is the capacity of governments to adjust their revenue and expenditure policies to overcome economic shocks and foster growth. It is a precarious balance between short-term responsiveness and long-term prudence. It is essential to realise that fiscal space is not an abstract concept. It is tangible and can be created through […] The post
The Head of Local Government Service, Dr. Nana Ato Arthur, has urged local government staff to exercise caution in their duties and refrain from engaging in any political activities. He emphasized that the service would sanction staff found breaking the rules. Addressing the press during a media engagement organized by the Local Government Service to […] The post Don’t
Consumer inflation eased further in December 2023 – closing at 23.2 percent, down from November’s 26.4 percent per data from the Ghana Statistical Service (GSS). This 3.2 percentage point decline aligns with forecasts, providing relief from the previously higher and persistent inflation. Cumulatively, inflation dropped 30.4 percent during 2023 while average inflation was 39.91 percent. […] The post
The Ada East District Assembly has refuted claims made by the local miners association of Songor that the assembly would render its members homeless if they were relocated from the Songor lagoon concession. These salt miners were instructed to vacate the Ada East sector of the Songor lagoon concession following a December 31 eviction deadline […] The post Ada
President Nana Addo Dankwa Akufo-Addo has declared that after three years of economic turmoil, Ghana is finally turning the corner. In a Christmas message to Ghanaians, the President conveyed his satisfaction that the country has successfully navigated the difficulties faced not only by Ghana but by the entire world. He highlighted positive indicators of economic […] The post After
The former president of Ghana and the flag bearer of the National Democratic Congress (NDC), Mr. John Dramani Mahama, recently announced his intention to run a 24-hour economy if elected president. This proposal has generated a lot of economic and political discourse on electronic and print media in Ghana and beyond on its realism and […] The post A 24-hour economy:
In September 2023, Ghana’s government launched a US$550billion Energy Transition and Investment roadmap toward achieving net-zero carbon emissions. The plan has capacity to create an estimated 400,000 jobs by 2060, according to details of its plan – which was developed by government and SEforALL. The plan was launched by President Nana Akufo-Addo during a Global […] The post Energy
An economist and financial analyst at the University of Ghana, Dr. Patrick Asuming, has urged the government to, as a matter of urgency, focus on building the economy more sustainably and not be fascinated by transient positive indicators. This follows the Finance Minister, Ken Ofori-Atta’s attribution of the consistent decline in inflation to the government’s […] The post Current
The President of the ECOWAS Federation of Chambers of Mines (EFEDCOM) of West Africa, Mr. Adam Soro, has urged member countries to tailor local content legislations to meet regional industrialization objectives. According to President Soro, this will provide the critical mass needed to attract investments to support the production of inputs used in the mining […] The post EFEDCOM
Oxford Business Group (OBG) and Koranteng & Koranteng Legal Advisors have formalised a strategic collaboration aimed at unveiling a comprehensive insight into Ghana’s legal framework in The Report: Ghana 2024. This partnership signifies a concerted effort to provide investors, policy-makers and businesses with essential insights into Ghana’s evolving legal landscape. Ghana faced economic challenges in […] The post
Introduction In accordance with Article 179 of the 1992 Constitution and section 21 of the Public Financial Management Act, 2016 (Act 921), the Minister for Finance presented the budget statement on behalf of the President on Wednesday, 15th November 2023. The 2024 budget is critical for the country as it tries to navigate the desire […] The post The 2024 budget and
The Head of the Local Government Service, Ing. Dr. Nana Ato Arthur, has asked that all local government staff aspiring for assembly positions in the upcoming District Assembly Elections, scheduled for December 19, should immediately resign from their positions if they emerge victorious. Nana Ato Arthur, who urged all Ghanaians to participate in the District […] The post Resign
Despite recent progress on restructuring the country’s debt, short-term interest rates exceeding 30 percent are undermining the savings achieved according to Leslie Dwight Mensah, an economist at the Institute for Fiscal Studies (IFS). With domestic markets as the sole financing source, he said, government remains vulnerable. “If stronger fiscal consolidation isn’t achieved, including on the […] The post
My favourite definition of economics is that by Lionel Robbins. According to Robbins, economics is “a science that studies human behaviour as a relationship between ends and scarce means that have alternative uses”. Microeconomics on the other hand relates to the study of choices made by individuals and households (consumers) or firms (producers) with respect […] The post Economics
The Institute of Statistical, Social and Economic Research (ISSER) has called for a dialogue between Mobile Money (MoMo) stakeholders to address the current impasse and arrive at fair and sustainable compensation for MoMo agents. ISSER emphasises the critical role of MoMo agents in driving financial inclusion in the country, and urges all parties to consider […] The post
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