The 2018 budget statement and economic policy of Government envision an overall deficit budget of Gh¢10,971.4 million representing 4.5 percent of GDP. Projected total revenue based on the economic outlook for 2018 show that about GH¢51,039.1 million will to be mobilised in the form of domestic revenue and grants. This represents 21.1 percent of GDP. In the same period, the government plans to spend GH¢62,010.3 million representing 25.7 percent of GDP. Meaning that government intends to spend more than its projected income by an amount of Gh¢10,971.4 million. The financing gap will be filled with borrowings from domestic and foreign sources. Simply put, we plan to spend what we do not have. Such has been the sad story of the Republic’s public financial management for a long time. The FY2018 deficit, however, is an improvement on 2017 figures. In 2017, the total projected outlook deficit is GH¢12,887.2 (6.3 percent of GDP). In percentage change, the 2018 deficit is 14.9 percent less th...
Yes! we can.
ReplyDeleteThis blog seeks to educate, inform and reorient the faculty of new Generation of potential leaders. Yes we can, and we have to do it today.Let us make use of all resources available to us to development mother earth, free from pollution, racism,discrimination against women, and hunger. Yes we can and the time is now.
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