Skip to main content

Government records fiscal deficit of 6.4% as of September 30, 2022 – BoG

 


Budget implementation, using banking sector data, for the first 9-months of this year recorded an elevated overall cash deficit of 6.4% of Gross Domestic Product (GDP).

This is against the revised programmed target of 5.0% of GDP.

According to the Bank of Ghana, total receipts of ¢51.49 billion (8.7% of GDP) over the review period, fell short of projected target of ¢60.08 billion (10.2% of GDP).

This represented 85.7% of the budgeted estimate.

Also, total payments of ¢89.04 billion (15.0% of GDP) was almost on target, representing 99.5% of ¢89.46 billion (15.1% of GDP).

The Central Bank added that the deficit of ¢37.56 billion, together with net foreign loan repayments of ¢3.54 billion, created a resource gap of ¢41.1 billion, which was financed from domestic sources and use of resources from the stabilization fund.

Government meets fiscal deficit target of 5.3% of GDP

Finance Minister, Ken Ofori Atta, had earlier pointed out that government met its fiscal deficit target of 5.3% of GDP in the first seven months of 2022.

According to him, the overall fiscal deficit amounted to ¢31.1 billion (5.3% of GDP), against a target of ¢31.2 billion (5.3% of GDP).

 
Labels:

Comments

Post a Comment

Popular posts from this blog

NESCAFÉ Launches Real Vibes Text & Win Promo to Reward Coffee Consumers Across Ghana

 NESCAFÉ has launched the Real Vibes Text & Win Promo, an exciting consumer promotion designed to reward loyal coffee lovers and bring the brand’s My Coffee, My Vibe experience even closer to consumers across the country. Running from September to December, the promotion gives consumers the opportunity to enjoy their favourite NESCAFÉ coffee while standing a chance to win exciting prizes, including phones, motorcycles, airtime and the ultimate grand prize—an electric SUV. Speaking at the launch, Lily Ntim, Category Development Manager for NESCAFÉ, said the promotion reflects NESCAFÉ’s commitment to creating, rewarding and memorable experiences for consumers. “Today, we are excited to introduce the NESCAFÉ Real Vibes Text & Win Promo, a campaign designed to bring the My Coffee, My Vibe experience even closer to our consumers,” she said. She added that the campaign is not only about prizes, but also about celebrating the everyday moments consumers enjoy with their coffee. “T...
Post a Comment
Read more

UK-Ghana Trade & Investment Summit: Trade Resource Centre to help businesses maximise UK-Ghana trade opportunities

 In a significant boost to UK-Ghana trade and investment relations, the UK-Ghana Chamber of Commerce (UKGCC), in partnership with the UK-Ghana Jobs and Economic Transformation (JET) Programme, has launched the UK-Ghana Trade Resource Centre, a practical market-access platform designed to help businesses identify opportunities, navigate export requirements and build commercial partnerships between Ghana and the United Kingdom. The UK and Ghana enjoy strong trade relations, with total bilateral trade reaching approximately £1.6 billion in the year to Q1 2026. Yet, despite this progress, significant untapped opportunities remain for businesses in both countries. The Trade Resource Centre has been established to help bridge information gaps, connect businesses with the right partners, and support firms to take greater advantage of opportunities under the UK-Ghana Trade Partnership Agreement. The launch formed one of the major outcomes of the UK-Ghana Trade & Investment Summit 2026,...
Post a Comment
Read more

Ghana Home Loans

With interest rates declining, a more liquid environment and a macroeconomic stability, mortgage financing is expected to see an ease of credit. And Ghana Home Loans being a leader in this industry is expected to lead the way. Ghana Home Loans (GHL), a leader in home mortgage, continues to be the frontier in fulfilling dreams of many Ghanaians in homeownership. Since starting business in 2006, it has also provided many existing homeowners with Equity Release mortgages to support their businesses, pay educational fees, improve their properties, or simply pursue other personal hobbies and interests. Ghana Home Loans is a mortgage finance institution which operates under Bank of Ghana’s supervision as a non-bank financial institution. At present, the Company remains the only such institution that focuses exclusively on the provision of mortgage product. Through the Home Completion mortgage and Home Construction mortgage products, Ghana Home Loans has enabled many qualified applican...
16 comments
Read more