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Remittance flows to developing countries are estimated to exceed $300 billion in 2008 Submitted by Dilip on Wed, 02/18/2009 - 09:56. With Sanket and K.M. Vijayalakshmi Newly available monthly and annual data show that remittance flows to developing countries reached $305 billion in 2008 compared to a revised $281 billion in 2007 (see table 1 below, click here for the Excel spreadsheet). The revised estimates translate into a 23 percent growth in 2007, and a 9 percent increase in 2008. While there is a significant deceleration in the growth of remittances in 2008 compared to the previous year, both the levels and growth rates in 2007 and 2008 are higher than previously estimated (more in our Migration and Development Brief 8 ). Note that this round of data release reflects more or less final data for 2007, but data for 2008 are still estimates that will be subject to another round of revision in late Spring or early summer. We a...
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WHY SPEND WHAT YOU DO NOT HAVE?

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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...
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Sustaining the free secondary School Policy of Ghana

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In recent times, teething challenges in Ghana’s free secondary education policy including congestion in classrooms, inadequate dormitories, and delays in disbursement of feeding grants have engaged the attention of many Ghanaians. Some individuals in the opposition, NDC have even postulated about the possible extermination of the programme within the next five years. The frank discussion is, however, particularly interesting to me because as we say “a government is like a waiter in a noisy restaurant, you must necessarily speak up before you can catch her attention”. And so, discussion on any government policy is a good one and potentially could force a change to various parts of the policy. It becomes uninteresting when we reduce everything to comic as Hassan Ayariga of the APC as usual took the discussion to the playhouse and exorcised the somewhat lively debate. Until the timely intervention by Dr Raymond Atuguba, I had switched my faculty antenna from the discussion. Dr Atuguba a...
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