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Business News Politics

Ghana’s trade surplus narrows to US$1b

 By Elorm Desewu  Ghana’s trade surplus has narrowed significantly recording a surplus of USw$1.1 billion representing 1.6% of Gross Domestic Product ( GDP) compared to a surplus of US$2.0 billion which was 2.8% of GDP in 2020.   The decline in the trade surplus was due mainly to increased imports as the economy rebounded.   Total exports […]
News Politics

Banks profit growth dip

By Elorm Desewu  Banks’ year on year profitability growth have declined recording 22.1 percent or GHC7.4 billion compare with 27.2 percent in 2020.  Notwithstanding the decline in the profit growth, the industry remained solvent with the average industry Capital Adequacy Ratio (CAR) of 19.6 percent which is well above the 11.5 percent regulatory minimum
Business News Politics

Govt misses fiscal deficit target

By Elorm Desewu The government’s fiscal deficit has widened further, recording an end year deficit of 9.7 percent o Gross Domestic Product, (GDP), slightly higher than the target of 9.4 percent of GDP for 2021. Total revenue and grants for 2021 was 15.4 percent of GDP. Domestic and tax revenue also recorded 15.2 percent and […]
News Politics

E-levy is ‘most nuisance tax’ – Terkper

Adnan Adams Mohammed A former minister of finance has described embattled Electronic Transactions Levy policy (E-Levy)as the most nuisance of all nuisance taxes in the history of Ghana’s economic management. The former minister takes strong opposition against the most controversial tax policy in the fourth republic governance of Ghana. In a statement reacting to a […]