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>

Ligue 1: Neymar the saviour as PSG beat Strasbourg 1-0

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Ligue 1: Neymar the saviour as PSG beat Strasbourg 1-0
Neymar scored a spectacular last-gasp goal for Paris St Germain that was greeted with more cheers than boos in a 1-0 Ligue 1 win over Racing Strasbourg on Saturday. It was the Brazilian’s first appearance of the season following a failed transfer to Barcelona. The forward found the back of the net with a bicycle […]
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[Video] Rudeboy x Khaligraph Jones – “Tonight”

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[Video] Rudeboy x Khaligraph Jones – “Tonight”
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Joe El – “Rawa” (Dance) [Prod. by Masterkraft]

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Joe El – “Rawa” (Dance) [Prod. by Masterkraft]
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Danny S – “Fo Kuli”

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Danny S – “Fo Kuli”
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Who Get Ear Vol. 82: Here are the 10 songs you need to play this week

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Who Get Ear Vol. 82: Here are the  10 songs you need to play this week
<p class="">This week, we feature Vien, Ctrl, Brainee, Mo’Believe, Zeenoleesky and others. </p> <h1>Welcome to another installment of ‘Who Get Ear,’ a weekly compilation of the 10 biggest songs you need to play this week. </h1> <p class="">It’s been an eventful week that saw <strong>Davido </strong>announce his engagement to long-time girlfriend, <strong>Chioma Rowland, </strong>and culminated […]
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3 Moms win The SchoolStoreNG #redefiningparenting Challenge | Enjoy 75% Discount on School Supplies This Season

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3 Moms win The SchoolStoreNG #redefiningparenting Challenge | Enjoy 75% Discount on School Supplies This Season
In July, SchoolStoreNG organized the #redefiningparenting challenge where parents were asked to make a video talking about a setback they encountered as a child and are currently making deliberate efforts now that they are parents to prevent their children from experiencing those setbacks. The challenge was personal and enlightening. The winners would be going home […]
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New Music + Video: Save Fame — Say No To Xenophobia

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New Music + Video: Save Fame — Say No To Xenophobia
Jaywon‘s Next World Music signee, Save Fame lends a voice to remind the government of the current situation in South Africa and what the youths of Nigerians go through. The song was produced by Smeezbeat and the viral video was directed by Dir. Singapore. Listen to the song below: https://www.bellanaija.com/wp-content/uploads/2019/09/Save-Fame-Say-No-To-Xenophobia.mp3 Download Watch the viral video below: […]
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Bella Shmurda ft. Olamide – Vision 2020 (Remix)

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Bella Shmurda ft. Olamide – Vision 2020 (Remix)
Bella Shmurda ft Olamide – Vision 2020 (Remix) Overview of Bella Shmurda ft Olamide – Vision 2020 (Remix) Bella Shmurda who is popularly known as Olamide‘s first son, releases the remix of his popular record tagged “Vision 2020“. ‘Vision 2020‘ the remix, features YBNL head honcho, Olamide who delivered an amazing verse. The record was […]
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Six Nigerian undergraduates found with ‘U.S. security’ documents convicted

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Six Nigerian undergraduates found with ‘U.S. security’ documents convicted
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Sokoto police arrest eight Shiite IMN members, 18 others
The police narrated their how the suspects were allegedly arrested. The post Sokoto police arrest eight Shiite IMN members, 18 others appeared first on Premium Times Nigeria. Related
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University worker dies after allegedly ingesting snipper

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University worker dies after allegedly ingesting snipper
The university says the worker had also previously attempted suicide. The post University worker dies after allegedly ingesting snipper appeared first on Premium Times Nigeria. Related
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