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2023 BUDGET IN BRIEF

  1. VAT INCREASED TO 2.5%

  2. E LEVY REDUCED FROM 1.5% TO 1%

  3.  

    Government to 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;

  1. Reduction of expenditure on appointments including salary freezes together with
    suspension of certain allowances like housing, utilities and clothing, etc.;

  2. 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;

  1. There shall be no printing of diaries, notepads, calendars and other promotional
    merchandise by MDAs, MMDAs and SOEs for 2024

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

2023 BUDGET IN BRIEF

  1. VAT INCREASED TO 2.5%

  2. E LEVY REDUCED FROM 1.5% TO 1%

  3.  

    Government to 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;

  1. Reduction of expenditure on appointments including salary freezes together with
    suspension of certain allowances like housing, utilities and clothing, etc.;

  2. 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;

  1. There shall be no printing of diaries, notepads, calendars and other promotional
    merchandise by MDAs, MMDAs and SOEs for 2024

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

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