April 2023 Fiscal Monitor Report

13 Apr

Ghana’s Tax Revenue To Grow Strongly In 2023 And Subsequent Years – IMF

wontumionlineBusinessApril 2023 Fiscal Monitor Report, Expenditure, GRA, imf, tax revenue

Ghana’s tax revenue is expected to grow strongly this year and the next five years, the International Monetary Fund April 2023 Fiscal Monitor Report has revealed. According to the report, the country’s tax revenue to Gross Domestic Product (GDP) is estimated at 17.2% in 2023. This is from 15.6% recorded in 2022. Per the figures, the country’s tax-to-GDP ratio will inched up to 17.9% in 2024 and then expand further to 18.4% in 2025. It will subsequently inched up to 18.7% in 2026 and remain stable in 2027 and 2028 respectively. This will almost push the tax revenue to the…

13 Apr

Ghana’s Fiscal Deficit To End 2023 At 7.3% Of GDP – IMF

wontumionlineBusinessApril 2023 Fiscal Monitor Report, Fiscal deficit, imf, Primary balance

The International Monetary Fund is projecting a marginal reduction in Ghana’s fiscal deficit to Gross Domestic Product (GDP) of 7.3% in 2023, from the 9.9% recorded in 2022. This is coming despite a significant cut in government expenditure and expected improvement in revenue. According to its April 2023 Fiscal Monitor Report, the fiscal deficit will however increase to 8.4% of GDP in 2024. This indicates that the country’s fiscal economy will still experience financing challenges. The fiscal deficit to GDP will then lower to 7.3% in 2025. It will subsequently go down to 5.9%, 5.3% and 5.4% of GDP in…