• 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

Total Gov’t revenue, expenditure hit GHS 44.9bn and GHS 59.5bn in first five months of 2023

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
100
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Total Gov’t revenue, expenditure hit GHS 44.9bn and GHS 59.5bn in first five months of 2023

The Bank of Ghana’s Monetary Policy Committee, in its July 2023 press release, unveiled provisional data on Ghana’s budget execution for the period spanning January to May 2023. The data revealed promising disparities from the initially programmed budget targets, indicating positive developments in the country’s fiscal performance.

Notably, the overall broad cash deficit for the mentioned period was reported at 1.8 percent of GDP, a noteworthy decrease compared to the initially projected budget target of 4.0 percent of GDP. This positive deviation in the fiscal deficit highlights the government’s prudent fiscal management and potential improvement in fiscal consolidation efforts.

Furthermore, the primary balance, on a cash basis, exhibited a deficit of GH¢1.2 billion, accounting for a mere 0.1 percent of GDP. This figure contrasts significantly with the anticipated deficit target of GH¢6.7 billion, representing 0.8 percent of GDP. Such a favorable outcome in the primary balance underscores the country’s commitment to effective fiscal policy implementation and disciplined financial management.

On the revenue front, total revenue and grants amounted to GH¢44.9 billion, equivalent to 5.6 percent of GDP. While this figure fell short of the targeted GH¢54.6 billion, constituting 6.3 percent of GDP, it demonstrates progress in revenue generation despite the ongoing economic challenges.

In parallel, total expenditure for the period amounted to GH¢59.5 billion, accounting for 7.4 percent of GDP, below the projected target of GH¢82.8 billion, representing 9.5 percent of GDP. This indicates prudent fiscal spending and potential efforts to curb expenditure amidst the evolving economic landscape.

The overall cash deficit of GH¢14.6 billion, with GH¢11.7 billion financed from domestic sources, exemplifies the government’s commitment to responsible fiscal management and its ability to access resources from domestic markets to finance budgetary requirements.

RelatedPosts

UEFA Champions League: Five Exciting Fixtures to Keep an Eye on

BoG 2nd Deputy Governor Urges Firms to Move Beyond Tokenism in Promoting Women to Leadership Roles

Market Activity Slows as Prime Index Marginally Edges Higher to 7,340.08 Points

As Ghana continues to navigate economic uncertainties, the reported encouraging fiscal performance, with deviations from budget targets, provides an optimistic outlook for the nation’s financial stability and economic resilience. As fiscal policymakers analyze these developments, they will undoubtedly strive to sustain the positive trajectory and achieve long-term fiscal sustainability.

No Result
View All Result

Highlights

US Open: Sinner Advances as Gauff and Swiatek Struggle

Unemployment Rate Falls to 13.1% but Youth Joblessness Remains Acute, Says GSS

Chamber of Mines Calls for Special Purpose Vehicle to Fund Western Corridor Railway Development

African Debt and Climate Change: How the ICJ’s Vanuatu Ruling Could be Used for Broader Justice

European Leagues Defend Plans to Stage Matches Abroad Amid EU Criticism

Bank of Ghana Sets Gold Coin Price at GHS 39,273 Per Ounce

Trending

Features

UEFA Champions League: Five Exciting Fixtures to Keep an Eye on

August 29, 2025

UEFA Champions League: Five Exciting Fixtures to Keep an Eye on The stage is set for the...

BoG 2nd Deputy Governor Urges Firms to Move Beyond Tokenism in Promoting Women to Leadership Roles

August 29, 2025

Market Activity Slows as Prime Index Marginally Edges Higher to 7,340.08 Points

August 29, 2025

US Open: Sinner Advances as Gauff and Swiatek Struggle

August 29, 2025

Unemployment Rate Falls to 13.1% but Youth Joblessness Remains Acute, Says GSS

August 29, 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.