\n
The Finance Minister\u00a0has hinted that some levies which have been described as \u201cnuisance taxes\u201d will be removed when he presents the 2017 budget.<\/p>\n
Ken Ofori-Atta is expected to present the NPP government\u2019s first budget, before the middle of March 2017.<\/p>\n
However, there are fears that with rising public debts which have\u00a0reached almost GHC120 billion, as at November 2016 and new arrears reaching GHC7 billion that have been discovered will make\u00a0government’s decision to remove\u00a0these taxes a little difficult.<\/p>\n
But at an engagement with some journalists in Accra, Mr Ofori-Atta said the review will happen, as they complete forensic audit of the fiscal accounts.\u00a0<\/p>\n
\u00a0\u201cClearly, when we present the\u00a0\u00a02017 budget, we will realize that there will be some tax eliminations and tax reduction\u201d, he added.<\/p>\n
Dealing with rising fiscal deficit\u00a0\u00a0<\/b><\/p>\n
Mr. Ofori Atta\u00a0noted that rigorous expenditure discipline and revenue mobilization, should help, with the financing of the fiscal deficit.<\/p>\n
\u201cIf there is any legacy, that we want to leave at the ministry of finance, then it\u2019s about making it a global standard treasury management and risk department, which, will help us to see all the public floats, which will help protect the public purse\u201d, he added.<\/p>\n
“We should be able to create value for every money spent,\u201d he said<\/p>\n
The minister has also directed all the Ministries, Department and Agencies not to go ahead and commit government to any project that has not been budgeted for, as they work, to control expenditure.\u00a0\u00a0\u00a0\u00a0<\/p>\n
Recent IMF visit on renegotiating targets<\/b><\/p>\n
Mr. Ofori-Atta said,\u00a0government\u00a0is committed to the program, to its end and was hopeful that by the end of the 15th<\/sup>\u00a0of this Month,\u00a0government\u00a0should be able to complete its engagement with the FUND on a good note.\u00a0<\/p>\nThe International Monetary Fund (IMF) team yesterday opened formal talks with\u00a0government, over its plan to renegotiate aspect of the three-year\u00a0Fund program.\u00a0\u00a0<\/p>\n
The team is currently having its technical meetings with their counterparts in Ghana.<\/p>\n
He also stated that\u00a0Ghana will miss its 2016 targets on growth, fiscal deficit, which could reach double digit as well as the primary balance<\/p>\n
“However, we are committed to restoring fiscal discipline and eliminate over expenditure,” the finance minister noted.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
The Finance Minister\u00a0has hinted that some levies which have been described as \u201cnuisance taxes\u201d will be removed when he presents the 2017 budget. Ken Ofori-Atta is expected to present the NPP government\u2019s first budget, before the middle of March 2017. However, there are fears that with rising public debts which have\u00a0reached almost GHC120 billion, as […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-343635","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n
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