Business News Mon, 20 Nov 2017

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98% of 2018 budget revenue to be generated domestically

Government, as part of its efforts to build a resilient economy devoid of external aid intends to raise about GHC 50.4 billion being 98% domestically of the targeted GHC 51. 039.1 billion revenues and grants for the 2018 budget.

The GHC 51.039.1 billion which is higher than the 2017 revenue being GHC 41. 254.3 is what government has projected for its developmental projects.

This was revealed at 2018 Post Budget Sensitization Workshop organized by the Ministry of Finance for journalists as a whole to understand the budget statement and as well disseminate the information to the public.

Speaking at the event, Director of Economic Research and Forecasting Division, at the Ministry, Dr. Alhassan Iddrisu mentioned that measures have been put in place to ensure that the targeted revenue is attained.

And that government is bent on building and sustaining macroeconomic stability by working to interrelate the four main sectors of the economy – being the real sector that deals with agriculture, industry; Fiscal sector which deals with revenue, expenditure financing.

Others are the external sector which also deals with transactions involving imports and exports and lastly the monetary sector where the Central Bank will be heavily turning things around.

Meanwhile, the Director of Budget at the Finance Ministry, Miss Eva Mends advised that the private sector needs to strongly get involved in the various governmental projects particularly the One District One Factory since government cannot build all factories.

She submitted that the funds will be available to the private sector and must therefore take advantage of it.

Source: Atinka Online

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