Investor Presentaiton
2016 Budget in Numbers
Deficit will fall to 5.3% of GDP on the back of
continued implementation of Ghana's home grown policies, new revenue measures and firm expenditure control
Deficit falls to 5.3% of
Full implementation
GDP
of the Income Tax Act
2015
25.6% increase in non
petroleum tax income
Wages 40.6% of Tax
Revenues vs 44.2% in
2015
No increase in
subsides in 2016
2015 2015 Revised
Ghc mn
Budget
Budget
2016
Budget
Ghc mn
2015
Budget
2015 Revised
2016
Budget
Budget
Total Revenue & Grants
32,406
30,526
38,038
Total Expenditure
39,152
37,930
43,505
Taxes on Income and Property
11,229
9,411
12,072
Compensation of Employees
12,313
12,313
14,024
Wages & Salaries
10,286
10,286
11,7723
Company Taxes
3,750
3,753
5,501
Social Contributions
2,026
2,026
2,301
Company Taxes on Oil
1,652
52
111
Use of Goods and Services
1,970
1,856
2,537
Other Direct Taxes
5,826
5,604
6,459
Interest Payments
9,577
9,350
10,491
Taxes on Domestic Goods and Services
9,472
9,348
11,324
Domestic
8,034
7,734
8,317
External
1,543
1,616
2,173
Excises
2,427
2,303
2,894
Subsidies
50
50
50
VAT
5,749
5,760
6,972
Grants to Other Government Units
7,408
7,190
9,651
National Health Insurance Levy (NHIL)
1,003
1,003
1,145
Social Benefits
61
61
75
Communication Service Tax
293
281
314
Other Expenditure
816
753
International Trade Taxes
4,706
3,275
5,473
Capital Expenditure
6,957
6,357
6,677
Overall Balance (Commitment)
(6,746)
(7,404)
(8,407)
Social Contributions
183
183
352
(percent of GDP)
(5.0)
(5.5)
(5.3)
Non-Tax Revenue
5,267
5,214
7,210
Overall Balance (Cash)
(8,816)
(9,727)
(8,408)
Grants
1,551
2,002
1,608
(percent of GDP)
(6.5)
(7.3)
(5.3)
Source: 2016 Budget Statement, Ministry of Finance
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