Report says the government of Ghana will overspend its budget for 2020, here’s why

Report says the government of Ghana will overspend its budget for 2020, here’s why

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Report says the government of Ghana will overspend its budget for 2020, here’s why
<p class="">The Economist Intelligence Unit (EIU) says the government of Ghana will overspend its budget in 2020.</p> <p class="">This according to the unit is due to the 2020 general elections that will be held in the country.</p> <p class="">Despite the government passing the Fiscal Responsibility Act last year aiming to limit future budget deficits to […]
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<p class="">The Economist Intelligence Unit (EIU) says the government of Ghana will overspend its budget in 2020.</p>

<p class="">This according to the unit is due to the 2020 general elections that will be held in the country.</p>

<p class="">Despite the government passing the Fiscal Responsibility Act last year aiming to limit future budget deficits to a maximum of 5% of GDP, the London-based business advisory firm expects the government to record a 5.5 percent budget deficit come next year.</p>

<p class="">The revelation was made in its July 2019 Country Report.</p>

<p class="">The report noted that following the completion of the IMF programme in April 2019, and a period of fiscal consolidation, it expects to see some spending laxity.</p>

<p class=""><em>“Moreover, the authorities will remain reluctant to lower public spending ahead of elections. The public ­sector wage bill—together with high-interest payments and capital expenditure to help to deliver ambitious industrialisation and infrastructure development promises—will drive expenditure increases.”</em></p>

<p class="">It added that <em>“Overall, we expect the fiscal deficit to widen from 3.4 percent of GDP in 2018 to 5.5 percent of GDP by 2020 as a result of rising expenditure,”</em> the EIU said.</p>

<p class="">Given that the government has struggled to meet its domestic revenue targets, EIU’s forecast implies that the government will have to fall on the capital markets and other funding sources to make up for the excess spending.</p>

<p class="">However, the firm forecasts a quick return to consolidation, leading to a lower deficit in 2023, of 3.3 percent of GDP.</p>

<p class=""><em>“As a result of this tightening, the public debt stock will edge down from an estimated 53.5 percent of GDP at the end of 2018 to 45.8% of GDP by end-2023, owing to fiscal consolidation combined with robust economic growth,”</em> the report said.</p>

Four Killed, Several Trapped As Uncompleted Building Collapses In Delta

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Four Killed, Several Trapped As Uncompleted Building Collapses In Delta
Four persons have been confirmed dead after a building under construction in Abraka, Ethiope East Local Government Area of Delta State collapsed. According to reports, asides the 4 persons who lost their lives in the accident, many others are trapped in the rubbles. The building reportedly collapsed while it was raining and workers rushed in […]
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BBNaija: ‘I Will Win The Competition This Year’ – Tacha

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BBNaija: ‘I Will Win The Competition This Year’ – Tacha
BBNaija Housemate, Tacha 2019 BBNaija housemate, Tacha has made it known she is in the game to win it. When asked how she felt about being one of the 17 housemates left in the house, Tacha, in her diary session, stated she will win the 2019 edition of the reality TV show. ALSO READ: #BBNaija 2019: […]
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What do men say you are?

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What do men say you are?
JOHN 1:47-48 states, “Jesus saw Nathanael coming to him, and saith of him, Behold an Israelite indeed, in whom is no guile! 48 Nathanael saith unto him, Whence knowest thou me? Jesus answered and said unto him, Before that Philip called thee, when thou wast under the fig tree, I saw thee.” Continue reading What […]
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Panic Everywhere As Timi Dakolo Raises Alarm Over Strange Armed Men Who Have Stormed His Home

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Panic Everywhere As Timi Dakolo Raises Alarm Over Strange Armed Men Who Have Stormed His Home
Timi Dakolo has raised an alarm to public attention as he reveals there are unidentified men with guns right in front of his house. The singer made this announcement through his Instagram page just minutes ago which has caused some sort of panick amongst music fans, entertainment industry colleagues and other well-wishers. However, after making […]
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Kutcha – “Physical” ft. Muno

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Kutcha – “Physical” ft. Muno
Fresh off his last hit single “This Year” super mix engineer and Rapper, Rap Kultcha starts the summer with a massive club banger titled ”Physical” featuring talented RnB Crooner Muno. This is guaranteed to get the ladies shaking and the fellas bobbing their heads. The track was produced by Siege for HitRash Studios. Listen and […]
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Timi Dakolo Declares War On COZA Founder, Pastor Fatoyinbo After He Tries To Get His Wife Arrested

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Timi Dakolo Declares War On COZA Founder, Pastor Fatoyinbo After He Tries To Get His Wife Arrested
Timi Dakolo has declared war on the founder of Common Wealth of Zion Assembly (COZA), pastor Biodun Fatoyinbo after the latest action of the preacher to get him and his wife arrested and whisked to Abuja. The singer who already raised public alarm after “strange” armed men stormed his house earlier this evening seems to […]
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U.S Based Nigerian Record Label Accuse Davido Of Defrauding Them Of 4 Million Naira, Seek Legal Action

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U.S Based Nigerian Record Label Accuse Davido Of Defrauding Them Of 4 Million Naira, Seek Legal Action
A U.S based Nigerian management and record company, “Always On Cash (A.O.C)” have filed a law suit against music superstar, Davido, after it was revealed he was allegedly paid the sum of 4 million naira to have him featured on their artiste, Tjay’s song in which he has refused to be available to fulfil his […]
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11,879 pupils write model college entrance examination in Lagos

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11,879 pupils write model college entrance examination in Lagos
<p class="">No fewer than 11,879 primary six pupils on Saturday sat for the 2019 Paper Pencil Test (PPT) entrance examination into the Lagos State Model Colleges and upgraded junior secondary schools in 43 centres across the state.</p> <h1>The News Agency of Nigeria (NAN) reports that the pupils were tested in English Language, Verbal Aptitude, General Paper, Mathematics, Quantitative […]
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Gombe transports first batch of 560 pilgrims to Saudi Arabia

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Gombe transports first batch of 560 pilgrims to Saudi Arabia
<p class="">Gombe State has transported its first batch of 560 intending Pilgrims from Lawanti International Airport Gombe to the Kingdom of Saudi Arabia.</p> <h1>Alhaji Sa’adu Hassan, Executive Secretary, Muslim Pilgrims Welfare Board, told newsmen that the pilgrims would land in Madinah, where arrangements had been put in place to receive them by officials of the National Hajj […]
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Peter Obi urges Nigerians to remain hopeful

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Peter Obi urges Nigerians to remain hopeful
<p class="">Mr Peter Obi, the Peoples Democratic Party (PDP) Vice Presidential Candidate in the last general elections, has urged Nigerians to keep hope alive as the party will reclaim its mandate through the tribunal.</p> <h1>Obi made the call when he addressed the 8th Stakeholders Meeting of the Anambra Chapter of PDP in Awka on Saturday.</h1> <p […]
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Timi & Busola Dakolo Invited by Police, Singer says “We have since been ready”

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Timi & Busola Dakolo Invited by Police, Singer says “We have since been ready”
On Saturday, Timi Dakolo shared a photo on Instagram, of a white bus in front of his house saying the occupants were armed. Shortly after, human rights activist and convener of #EndSARS, Segun Awosanya (@segalink), in a series of tweets, said officers of the Rapid Response Squad were on their way to the singer’s house, […]
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Men who love their own company!
“For close to two years, I tried all I could to get the family together again, but my wife was adamant. In the meantime, the meals I ate were horrible because, in fairness to her, my wife was a smashing cook. Continue reading Men who love their own company! at Vanguard News. Related
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