• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Government Spends GHS 95.9bn In First Half Of 2024, Below Budget Target Of GHS 104.8bn

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
114
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Government Spends GHS 95.9bn In First Half Of 2024, Below Budget Target Of GHS 104.8bn

Ghana’s Finance Minister, Dr. Mohammed Amin Adam, has lauded government’s fiscal discipline in the first half of 2024, noting that total government expenditure amounted to GH¢95.9 billion, below the budget target of GH¢104.8 billion.

Dr. Amin Adam during the presentation of the 2024 Mid-Year Budget Review in Parliament on Tuesday, underscored the alignment of revenue mobilization and expenditure execution with the budget targets, resulting in an overall budget deficit on a commitment basis of GH¢21.3 billion.

The primary balance on a commitment basis recorded a deficit of GH¢2.3 billion, equating to 0.2% of GDP, which was close to the target deficit of GH¢2.4 billion (0.2% of GDP).

However, the overall cash budget deficit stood at GH¢36.1 billion, representing 3.4% of GDP, slightly above the deficit target of GH¢35.2 billion (3.3% of GDP).

The primary balance on a cash basis showed a deficit of GH¢17.1 billion (1.6% of GDP), compared to the period target of GH¢8.8 billion (0.8% of GDP).

Revenue Performance

RelatedPosts

Standard Chartered Empowers Future Leaders Through Financial Literacy and Mentorship

Nigeria Exiting Years of Economic Doldrum But Hard Road Ahead Still

ChatGPT Captures 48.36% of All AI Tool Traffic

Total government revenue and grants for the first half of 2024 amounted to GH¢74.7 billion, falling short by 1.9 percent against the target of GH¢76.1 billion.

Despite this shortfall, the revenue showed a nominal year-on-year growth of 24.6 percent and represented 42.3 percent of the budget’s total revenue for the year.

The Finance Minister attributed the strong revenue performance primarily to robust non-oil tax revenue which helped offset the shortfalls in oil receipts.

“We have managed to keep our expenditures below the budget target while ensuring that our revenue mobilization efforts yield significant growth. This demonstrates our commitment to maintaining fiscal discipline and achieving our economic targets,” Dr. Amin Adam stated.

The presentation by Dr. Amin Adam underscores Ghana’s efforts to navigate economic challenges through prudent fiscal management. The government’s ability to maintain expenditure below target and achieve substantial revenue growth despite shortfalls highlights its commitment to fiscal responsibility and economic stability.

The Finance Minister’s address provides a comprehensive overview of Ghana’s fiscal performance for the first half of the year, reflecting the strategic measures being taken to ensure economic resilience and sustainable growth.

With ongoing efforts to manage expenditures and enhance revenue mobilization, Ghana is poised to achieve its fiscal targets and foster long-term economic stability.

Tags: Below Budget Target Of GHS 104.8bnBudget TargetexpenditureGovernment Spends GHS 95.9bn In First Half Of 2024revenue and grants

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Aid to Regional Partnerships: Japan’s New Strategic Approach to Economic Engagement with Africa

President Mahama in Singapore to Court Investment and Deepen Bilateral Ties

GRA Says Cedi Rebound Cuts Government Revenues by 30%

Here’s Why Uber’s CEO Believes China is Winning the EV Race

Appiah Adomako Writes: Ghana Needs a Surgical Approach to Minimum Investment Capital Requirement

Serie A: Jonathan David Shines on Serie A Debut as Juventus Overcomes Parma

Trending

Business

Standard Chartered Empowers Future Leaders Through Financial Literacy and Mentorship

August 25, 2025

Standard Chartered Empowers Future Leaders Through Financial Literacy and Mentorship In today’s rapidly evolving economy, financial literacy...

Nigeria Exiting Years of Economic Doldrum But Hard Road Ahead Still

August 25, 2025

ChatGPT Captures 48.36% of All AI Tool Traffic

August 25, 2025

Aid to Regional Partnerships: Japan’s New Strategic Approach to Economic Engagement with Africa

August 25, 2025

President Mahama in Singapore to Court Investment and Deepen Bilateral Ties

August 25, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.