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Fitch forecasts higher 2017 budget deficit

fitch

Rating agency, Fitch, has forecasted that the 2017 budget deficit would narrow to 7.5% of GDP on a cash basis, and further to 5.5% in 2018. This deficit forecast by the US-based agency is higher than government’s 2017 forecast of 6.5% which the Finance Ministry is hoping to achieve with an …

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Validation of all public sector workers to be completed by June 2

controller

The Social Security and National Insurance Trust (SSNIT) is expected to complete the validation process for all public sector workers between May 29 and June 2. All workers affected by the recent clean-up of the payroll are, therefore, expected to fill SSNIT in on their details for re-enrollment between Monday, …

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Monetary Policy Committee likely to maintain rate at 23.5%

BoG

GN Research expects Monetary Policy Committee (MPC) to keep the Monetary Policy Rate at 23.5 percent, due to a positive trend in inflation outlook, a stable currency, an improved investor confidence and the general positive outlook for the economy. The (MPC) of the Central Bank is set to announce a …

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Uber to engage 1 million female drivers

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Transport technology hub, Uber, has announced plans to rope in a million female driver-partners globally, including Ghana, to empower the women economically. The initiative, which is expected to be achieved by 2020, is in line with the company’s global commitment to create a gender balance and empower women to benefit …

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Nana Yaa Jantuah resigns from PURC

Yaa Jantuah

The Director of Public Relations and External Affairs at the Public Utility Regulatory Commission (PURC) Nana Yaa Jantuah has resigned over allegations of financial embezzlement. Her resignation takes effect November 11, 2017, according to her resignation letter to the Commission. Prior to announcing her intention to resign, the Bureau of …

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Oil prices rise on expectation of extended crude supply cut

OIL-RIG

Oil prices rose on Tuesday, extending gains after a joint announcement by top producers Saudi Arabia and Russia to push for an extension of supply cuts until the end of March 2018 gained traction. As of 0653 GMT, brent crude futures were at $52.08 per barrel, up 26 cents, or …

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Illegal miners respond to govt directive, move out of sites

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Galamsey operators in some sites in the Ashanti region and western north of the country have vacated their concession in line with government’s directive. Places TV3 news team in Kumasi visited showed that illegal miners have suspended their operations and vacated their sites after a deadline given by the government …

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Contractors owed GH¢1.3bn – Report

construction

Contractors engaged by government for the execution of various projects across the country are owed Ghc1.3 billion as at December 2016, the Parliamentary Select Committee on Works and Housing report has revealed. “The Ministry’s indebtedness to contractors as at 31st December, 2016 was highlighted as GH¢ 528.4million and US$174million. By converting …

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