Ghana's Economic Outlook 2020 GGEA

07-02-2020

Ghana's Economic Outlook 2020 GGEA

The Ghanaian German Economic Association wishes to invite GNBCC Member's and Clients to its maiden programme of the year dubbed, "Ghana's Economic Outlook for the year 2020"

The 2020 budget which was read by the Minister of Finance, Hon. Ken Ofori-Atta on the 12th of November, 2019 is underlined with the following assumptions; 

  • Overall Real GDP growth of 6.8 percent
  • Non-Oil Real GDP growth of 6.7 percent
  • End-period inflation of 8.0 percent
  • Fiscal deficit of 4.7 percent of GDP
  • Primary surplus of 0.7 percent of GDP
  • Gross International Reserves to cover not less than 3.5 months of imports of goods and services

Per the budget statement, the total revenue and grants for end-September 2019 amounted to GH¢36.2 billion as against a programmed amount of GH¢41.9 billion. The shortfall is mainly attributed to under performance in some of the tax types. Total Expenditures (including arrears clearance) for end-September 2019 also amounted to GH₵51.45 against a target of GH₵56.13 billion. 

Irrespective of the fact that we couldn't reach our target, some gains were made but how do we consolidate the gains made so far? What are the new initiatives in tax administration for 2020? How must companies position themselves to take advantage of the benefits in the 2020 budget?
 
For answers to this and more, the Ghanaian-German Economic Association invites you to join the Acting-Commissioner General of GRA, Mr. Ammishaddai Owusu-Amoah, Hon. Ken Ofori-Atta, Minister for Finance and Mr. Kofi Frempong-Kore, Partner, Tax, KPMG as we discuss Ghana's economic outlook for the year 2020. Come and obtain information about economic prospects, policy initiatives and financial directives, and emerging business opportunities in the country and, as the backbone of the economy, make our case to the Government.
 

Venue: Prins Hall, Alisa Hotel
Date: Wednesday, 12th February 2020
Time: 4:00 p.m. – 6.00 p.m. prompt

Kindly confirm your participation by sending your name, company and telephone number to ggea@ggea.net  or call 0263007588 to register.

 

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