2022 Budget: Planned domestic borrowing will starve local businesses of credit
Image source: GhanaWeb

2022 Budget: Planned domestic borrowing will starve local businesses of credit


Summary short_text

In the 2022 budget presented to parliament by the finance minister, government is seeking to fund its projected fiscal deficit of 7.4 percent of GDP through domestic borrowing.

Even though the central bank admits heightened credit risk associated with the pandemic could be a factor influencing banks to tread cautiously, it further notes that banks are taking advantage of the excessive borrowing by government from the domestic market to crowd out the private sector; a development the committee fears will have negative consequences on the economy, especially at time businesses need a financial injection to boost their operations.


Read full article: GhanaWeb |
More from: GhanaWeb More in: Business
More news summaries from GhanaWeb
Showbiz

Applaud Gospel artistes for sustaining Highlife music

Roy X Taylor who happens to be the son of Legendary Highlife musician, Ebo Taylor said on Kastle FM that most of the Gospel arti... read summary
Showbiz

Those who fall in love without a plan will always regret

She wants the youth who just fall in love after sighting a pretty young man or lady to be wary that such a relationship could cr... read summary
Sports

Mohamed Salah will soon break all my scoring records

Mohamed Salah celebrates after scoring for Liverpool. Former Ivory Coast player Drogba proven to be one of the best Africans to ... read summary
Sports

2021/22 GPL matchday 5: WAFA score late to beat Olympics 1-0

As a result, the team today hosted Great Olympics at the Sogakope Red Bull Arena booming with confidence and keen on picking the... read summary
Sports

Elvis Manu: We could have done more against Red Star

Manu has represented the Netherlands in the U16, U17, U19, U20 and U21 levels. On 24 June 2015, he switched his national allegia... read summary
Politics

Join Minority to vote against 2022 budget

Minority threatens to vote against approval of budget. The General Secretary of the opposition National Democratic Congress, Joh... read summary
Politics

We are waiting for you in the chamber

Member of Parliament for Ningo Prampram, Sam Nartey George, has taken to social media to taunt the majority's decision to walk o... read summary
Politics

2022 budget rejection: Asiedu Nketia was too powerful for majority side

Member of Parliament for Wa Central Constituency, Abdul-Rashid Hassan Pelpuo, has stated that the presence of the General Secret... read summary
Showbiz

Ghanaian becomes first African beauty influencer to partner top UK cosmetics firm

Lawson, who is known for creating distinct looks for her clients, was invited by M.A.C Cosmetics and My Runway Group, a UK-based... read summary
More News Summaries...
GH Base Showbiz |
CitiNewsRoom Politics |
Pulse Gh Showbiz |
Pulse Gh Showbiz |
GH Base Showbiz |
GH Page Sports |
CitiNewsRoom Politics |
GH Page Sports |
GH Base Showbiz |
GhCelebrities Showbiz |
GH Page Sports |
CitiNewsRoom Politics |
Pulse Gh Showbiz |
GhCelebrities Showbiz |