- The GSE-CI closed the week at a lower level of 1,876.41 points on the back of losses in UNIL and FML, while the GSE-FSI remained flat
- On the secondary market, Government could only raise GHS 802.67m out of the GHS 1,025.00m it sought to raise form 91, 182 and 364-Day Bills issuance. An additional amount of GHS 590.33m was raised from the new 7-Year August 2027 Bond.
ECONOMIC SCOOP
Government reveals budget guidelines for 2021-2024 fiscal period
- The Government of Ghana has released its budget guidelines for the 2021-2024 fiscal period with fiscal deficit expected to be 9.40% of GDP for 2021, improving on the 2020 target of 11.40% of GDP.
- Government projects Total Revenue and Grants to come in at GHS 56,956 million (13% of GDP) for 2021.
- Total Expenditure for 2021, which includes payments for the clearance of arrears, is projected at GHS 98,462 million (28.2% of GDP).
Inflation goes up to 11.40% in July 2020
- Headline inflation moved up by 0.20% in July to close the month at 11.40%.
- Non-food inflation was the main driver of headline inflation for the month, increasing from 9.20% to 9.70%.
- Food and non-alcoholic beverages prices also continue to influence the general rate of price increase, albeit easing from 13.80% to 13.70% in July.
- Inflation was highest in the Greater Accra Region at 16.20%, while the Volta Region recorded the lowest rate of 4.20%.
