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    Home » Highlights of Ghana’s 2023 Budget
    Economy and Finance

    Highlights of Ghana’s 2023 Budget

    Newsguide AfricaBy Newsguide AfricaNovember 29, 2022No Comments3 Views
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    Ken Ofori Atta
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    1. Vat Increased To 2.5%

    2. E Levy Reduced From 1.5% To 1%

    3. Government yo undertake major structural reform in public sector.

    4.  4% Year-On- Year Growth Recorded For Overall GDP.

    5. Domestic revenue amounted to Gh 64,601million, 10.9% of GDP.

    6. Place a cap on salary adjustment of SOEs to be lower than negotiated base

    pay increase on Single Spine Salary Structure for each year.

    7. All MDAs, MMDAs and SOEs are directed to reduce fuel allocations to Political

    Appointees and heads of MDAs, MMDAs and SOEs by 50%. This directive applies

    to all methods of fuel allocation including coupons, electronic cards, chit system,

    and fuel depots. Accordingly, 50% of the previous years (2022) budget allocation

    for fuel shall be earmarked for official business pertaining to MDAs, MMDAs and

    SOEs;

    8. A ban on the use of V8s/V6s or its equivalent except for cross country travel. All

    government vehicles would be registered with GV green number plates from

    January 2023;

    9. Limited budgetary allocation for the purchase of vehicles. For the avoidance of

    doubt, purchase of new vehicles shall be restricted to locally assembled vehicles;

    10. Only essential official foreign travel across government including SOEs shall be

    allowed. No official foreign travel shall be allowed for board members.

    Accordingly, all government institutions should submit a travel plan for the year

    2023 by mid-December of all expected travels to the Chief of Staff;

    11. As far as possible, meetings and workshops should be done within the official

    environment or government facilities;

    12.Government sponsored external training and Staff Development activities at the

    Office of the President, Ministries and SOEs must be put on hold for the 2023

    financial year;

    13. Reduction of expenditure on appointments including salary freezes together with

    suspension of certain allowances like housing, utilities and clothing, etc.;

    14. A freeze on new tax waivers for foreign companies and review of tax exemptions

    for free zone, mining, oil and gas companies

    15.A hiring freeze for civil and public servants

    16.No new government agencies shall be established in 2023;

    17.There shall be no hampers for 2022;

    18. There shall be no printing of diaries, notepads, calendars and other promotional

    merchandise by MDAs, MMDAs and SOEs for 2024

    19. All non-critical project must be suspended for 2023 Financial year.

    2023 BUDGET Ghana budget Ghana economy
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