Essay in Student of University of Cape of Coast

Intro

Fiscal policy refers to the government's alternatives regarding the general level of authorities purchases and taxes. Financial policy is undertaken by government to handle, control and manipulate the economic variables in the economy just like inflation, lack of employment, consumption and a whole lot more. The financial operations that has been taken place for the past decade in Ghana In the year 2000, Total revenue and grants amounted to 5, 385. 0 billion dollars while total expenditure arrived at 7, 524. 9 billion. Out of an estimate of just one, 319. zero billion, just 574. several billion basically flowed in. Tax income collections surpassed the original projections on account of good performance coming from direct taxation, indirect and trade income taxes. The eventual actual tax revenue yielded 3, 731. 7 billion as against an estimate of three, 957. three or more billion. Provisional figures pertaining to 2000 reveal an overall harmony of payments deficit of US$194. almost 8 million, in contrast to an initial projected zero stability. In 2001, Provisional outturn for 2001 indicates that overall fiscal balance was obviously a deficit of 4. some per cent of GDP. Taxes revenues surpass the budget projections of ¢6, 255. 2 billion by simply ¢301. several billion, because of better-than-programmed deliver from useful taxes and import responsibilities. Provisional money data show total lawful payments of ¢5, 474. 5 billion dollars and discretionary payments of ¢6, 206. 3 billion dollars. These are below the individual targets of ¢5, 574. 8 billion dollars and ¢7, 498. 7 billion. In 2003, The receipt of ¢3, 118. 8 billion dollars, in total grants or loans including multilateral HIPC alleviation in 2003 represented a disbursement rate of almost 98percent, the highest in many years. Compositionally, tax earnings exceeded the target of ¢12, 556. several billion by ¢205. almost 8 billion. As well, real GDP growth was higher than anticipated — 5. 2 percent against a projected four. 7 per cent. The overall budget deficit was contained for 3. some per cent of GDP resistant to the targeted three or more. 3 per cent of GDP. In 2005, Revenue has increased from ¢4. 4 trillion representing 16. 3...

Referrals: Budget assertion for 2150, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 08, 2009 and 2010 contact form http://www.ghana.gov.gh/index.php/investors/economy/budget-statement.

Nyanteng V. T. (Ed), (1993). Policies and Option for Ghanaian Economic Expansion, University of Ghana, Legon, Accra.

Amoah, B. and Loloh, Farreneheit. W. (2008) " Origin Linkages Between Government Earnings

And Spending: Evidence via Ghana”, Staff Working Papers, Bank of Ghana



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