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Key highlights of 2018 Budget Statement and Economic Policy

Ken Ofori-Atta, Finance Minister

The government has introduced special initiatives targeted at turning the economy around and bringing financial relief and comfort to Ghanaians.

These initiatives are contained in the 2018 Budget Statement and Economic Policy which was presented by the Minister of Finance, Ken Ofori Atta.

In the budget which has been themed, “Putting Ghana to Work Again”, government intends to curb graduate unemployment by providing jobs to over 100,000 tertiary graduates under a special programme dubbed the ‘Nation Builders Corps’ (NBC) in 2018.

Mr Ofori-Atta said about 2,700 extension agents have already been recruited under the Planting for Food and Jobs programme which was launched in January 2017.

In his presentation, the Finance Minister among other things disclosed government’s intent to prioritize education saying, “We will have a focus on teacher development and accountability, improved quality of teaching and learning at all levels and equitable access at all levels”.

Electricity tariff has also been reduced across various customer categories as follows:

Residential has been reduced by 13 %

– Non Residential 13%

– Special Load Tariff- Low Voltage 13%

– Special Load Tariff -Medium Voltage 11%

– Special Load Tariff -High Voltage 14%

– High Voltage Mines 21%.”

The government also intends “to end the year with the fiscal deficit of 6.3 percent from 9.4 percent.”

 

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