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Finance Minister Enoch Godongwana has also announced a slew of tax relief measures to help struggling consumers and businesses affected by rolling blackouts. The measures include a tax break for solar installations and some relief against high fuel prices. However, government plans to raise more taxes with sin tax, meaning big increases in tobacco products and alcohol.
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PwC’s Gifty Appiah shares her views on the general outlook on taxes in the Mid-Year Review of the 2023 Budget Statement and Economic Policy of Government of Ghana presented by the Hon. Minister for Finance on 31 July 2023.
Tonight National Treasury Cabinet Secretary Prof. Njuguna Ndungu has tabled in Parliament a budget statement of 3.7 trillion shillings. This is the expenditure plan of the government for the next one year.
The focus of the 2023 budget is the crippling electricity crisis and Eskom's high debt - which is affecting overall economic performance. Government plans to offload R254 billion of Eskom's debt, to enable the troubled power utility to carry on with investment and maintenance.
Finance Minister Enoch Godongwana presented the 2023 budget amidst unfavourable economic conditions, characterised by the low growth that is exacerbated by power failures, deteriorating rail and port infrastructure, high inflation and a weaker global outlook.
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The Ministry of Education has expressed concern at cuts in their proposed sectoral budget, which they say will affect operations. They add that some of the budgets affected include the students' loan scheme, capitation grants as well as National Council of Sports. The cuts constitute up to 80% of their approved budget. The finance minister Matia Kasaija says the effects of Covid-19 are the lead cause of the budget cuts since there is low cash inflow in the economy.
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Uganda's ambitious UGX 52.7 billion government budget for the current financial year faces funding challenges amidst global economic factors and the recent passing of the anti-homosexuality act. With the Uganda Revenue Authority collecting UGX 25 trillion, questions arise about meeting government needs and the possibility of seeking additional funds. On The Spot, we explore the implications of the budget on the nation.
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In this Mid-Year Budget Review video, Hayfron Aboagye, Partner, PwC Ghana shares his views on how measures on arrears clearance and prevention strategies outlined in the Mid-Year Review of the 2023 Budget Statement and Economic Policy of Government of Ghana can achieve needed results.
In this video, we're going to take a look at the South Africa Budget Speech 2023 and what it means for you.
This budget speech provides a detailed overview of the government's plans for the next two years, and it will have a major impact on your everyday life. We'll discuss the key points of the speech and how it will affect your wallet. So whether you're a South African resident or just visiting the country, be sure to watch this video to get a better understanding of the latest developments in South Africa!
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Finance Minister Enoch Godongwana will deliver the Budget Speech this afternoon. Godongwana will have to navigate through the country's immense economic challenges such as unemployment, the energy crisis, grants, tax incentives, safety and security and education to name a few, to find the right fiscal path.
SABC News reporter Bulelani Phillip and video journalist Sihle Mkhize are covering the story.
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The medium-term budget policy statement was tabled in parliament by finance minister Enoch Godongwana on Wednesday November 1 2023.
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The next financial year budget is projected at 49.9 trillion shillings up from UGX 48.1 trillion allocated for this financial year 2022/23. However, what will be available for spending by the government is UGX 22.8 trillion with the rest of the resources channelled to items like debt payment.
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The Kenyan government has presented its budget to parliament in the face of widespread anger over a range of proposed tax hikes. This is President William Ruto's maiden budget since he took office at the helm of the East African economic powerhouse in September last year, following a bitterly contested election race. Despite pledges by President Ruto to help poor Kenyans known as hustlers, he has been accused of introducing policies that have actually made their lives harder.
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