Pulse Business Wrap Terkper requests for GHC1.8 billion supplementary budget

The Minister of Finance Seth Terkper has asked for an additional budget of GHC1.8 billion for various intervention programme for the rest of 2016.

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Terkper requests for GHC1.8 billion supplementary budget

The Minister of Finance Seth Terkper has asked for an additional budget of GHC1.8 billion for various intervention programme for the rest of 2016.

Mr Terkper made the request when he appeared before Parliament to present a supplementary budget.

According to the minister, the demand has become necessary due to plunge in commodities prices, shut down of the FPSO Kwame Nkrumah and drop in crude oil prices on the international market.

 

Debt accumulation rate decreases for first time in a decade

 

Ghana’s debt accumulation rate has reduced for the first time in  over a decade, according to Finance Minister Seth Terkper.

In his delivery of the Mid-year Budget Review in parliament, Seth Terkper said government’s decision to consolidate expenditure by cutting social spending on subsidies has began to pay dividends.

Government, since 2015 adopted the book-building method  of borrowing, which ensures that government combines both local and foreign sources.

 

We go to the currency market

 

Currency                      Buying                         Selling

Dollar                            3.96                             4.26

Pound Sterling             5.22                             6.52

Euro                               4.40                            4.70

 

On how your stocks performed on the GSE Index today

Cal and EGH were the biggest gainers of the day, gaining 1p each to close at 0.83p and 6.61p respectively.

GGBL were the biggest losers of the day, losing 2p to close at 1.80p

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