Finance Minister, Mr Ken Ofori-Atta has presented to Parliament the budget for 2018. This is the second budget statement and economic policy since the President Akufo-Addo led administration assumed office on January 7, 2017.

Click here to access the document.

GhanaPoliticsonline.com final 2018 budget speech

Key Highlight of the 2018 Budget Statement and Economic Policy
Theme: “Putting Ghana to work”
MACROECONOMIC PERFORMANCE FOR 2017

• Overall real GDP (as of June) 7.8%
• Non-Oil real GDP (as of June) 4.0%
• End-period inflation (as of October) 11.6%
• Overall budget deficit on cash basis as percentage of GDP(Sept) 4.5%
• Primary balance (Sept) 0.3%
• Current account balance (August) (0.2%)
• Gross International Reserves (import cover)-Sept 3.9%
• End year expected deficit 6.3%
2017 SECTOR GROWTH

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• Agriculture 4.3%
• Industry 17.7%
• Services 4.7%
EXCHANGE RATE DEVELOPMENTS -2017
Cedi/Dollar depreciation 4.0%

INTEREST RATE DEVELOPMENTS – 2017
• 91-Day 13.2%
• 182-Day 14.1%
• 1-Year 15.0%
• Interbank Average 20.94%
• Average Lending rates to DMBs 28.97%

POLICY INITIATIVES FOR 2018
• The Akufo-Addo Programme For Economic Transformation (Aapet)
• Financial Sector Initiatives
• Energy Sector Policy Initiatives
• Revenue Measures
• Expenditure Measures
• Voluntary Education Fund
OTHER INITIATIVES
National LPG Promotion Policy will be rolled out

Electricity Tariff Reforms (Reduction)
• Residential – Up to 13%
• Non Residential – 13%
• Special Load Tariff- Low Voltage – 13%
• Special Load Tariff -Medium Voltage – 11%
• Special Load Tariff -High Voltage – 14%
• High Voltage Mines – 21%

below is the full document

GhanaPoliticsonline.com final 2018 budget speech

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