Docstoc

Personal Debt Relief Grants

Document Sample
Personal Debt Relief Grants Powered By Docstoc
					TABLE 1: SUMMARY OF CENTRAL GOVERNMENT OPERATIONS - 2010


                                                                      2010              2010              2010              2010              2010
                                                   12:56           Budget               Prov.             Prov.             Prov.             Prov.
                                        14 November 2010          Estimate               Jan.              Feb               Mar                Q1
I. REVENUES
Total Revenue & Grants                                      9,628,527,463      575,008,609       553,852,806       802,721,662       1,931,583,077
     (per cent of GDP)                                                37.1              2.2               2.1               3.1                 7.4
    Total Revenue                                           8,264,012,863      460,170,970       475,521,404       509,254,062       1,444,946,435
        Tax Revenue                                         6,072,242,638      403,905,600       422,573,594       435,486,362       1,261,965,555
           Direct Taxes                                     2,235,385,520      169,858,100       146,971,400       146,226,200         463,055,700
               Company Taxes                                   881,756,000       43,955,205        44,917,770        74,954,063         163,827,038
             Oil Revenue
             Other direct taxes                               1,353,629,520     125,902,895       102,053,630        71,272,137        299,228,662
          Indirect Taxes                                    2,119,654,800      118,156,126       134,154,271       159,583,720        411,894,117
             VAT                                              1,675,350,000      89,079,396       109,695,661       126,229,400        325,004,457
                 Domestic                                       609,400,000      24,826,420        43,936,560        53,743,940        122,506,920
                 Imports                                      1,065,950,000      64,252,976        65,759,101        72,485,460        202,497,537
              Petroleum                                         352,400,000      25,662,500        14,323,000        24,757,100         64,742,600
             Other indirect taxes (excise)                       91,904,800       3,414,230        10,135,610         8,597,220         22,147,060
          International Trade Taxes                         1,141,444,138       70,336,524        77,137,999        81,064,140        228,538,663
             Import duties                                    1,089,621,800      70,336,524        72,137,999        81,064,140        223,538,663
             Export duties                                       51,822,338               0         5,000,000                 0          5,000,000
          Import Exemptions                                   237,228,180       28,272,970        43,660,354        24,874,402         96,807,725

          National Health Insurance Levy (NHIL)               480,907,660        21,354,180        25,125,870        32,692,600         79,172,650
            CEPS Collection                                    216,710,000         12,726,700        12,600,900        13,645,800        38,973,400
            VATS Collection                                    121,820,000          4,555,180         8,048,670        10,092,100        22,695,950
            SSNIT Contribution                                 142,377,660          4,072,300         4,476,300         8,954,700        17,503,300

      Other Revenue Measures                                   132,990,000        7,850,770         8,051,710         8,634,300         24,536,780

      Non-tax revenue                                       1,916,402,565       44,342,300         40,419,800       56,178,700        140,940,800
      Other revenue                                                      0                0                  0                0                  0
   Grants                                                   1,364,514,600      114,837,639         78,331,402      293,467,600        486,636,641
      Project grants                                          832,880,100        38,425,000         51,663,500      123,525,500        213,614,000
      Programme grants                                         296,205,000                0         17,903,300      136,473,500        154,376,800
      HIPC Assistance (multilaterals)                          131,595,000       46,878,039                  0       31,933,600         78,811,639
      Multilateral Debt Relief Initiative (MDRI)               103,834,500       29,534,600          8,764,602        1,535,000         39,834,202
         International Monetary Fund                                     0                0                  0                0                  0
         World Bank                                             93,930,000       29,534,600          8,471,144        1,535,000         39,540,744
         African Development Bank                                9,904,500                0            293,458                0            293,458

II. EXPENDITURE
Total Expenditure                                          10,777,693,713      591,341,127       930,636,966       985,497,101       2,507,475,194
    (percent of GDP)                                                   41.6             2.3               3.6               3.8                 9.7
    Recurrent                                               7,625,048,860      441,120,027       572,447,342       608,975,467       1,622,542,836
       Non-interest expenditure                             6,278,891,440      360,896,967       431,421,831       498,197,383       1,290,516,181
           Personal emoluments                                3,112,950,000     213,499,139       212,578,375       233,552,999         659,630,513
              (percent of GDP)                                         12.0             0.8               0.8               0.9                 2.5
           Goods & Services                                   635,082,000.0      18,227,713        63,724,926       103,439,544         185,392,183
           Transfers                                          1,972,559,440     129,170,115       142,463,363       152,693,695         424,327,173
              o/w TOR for under-recovery                                  0               0                 0                 0                   0
           Reserve Fund                                         558,300,000               0        12,655,167         8,511,145          21,166,312

     Interest payments                                      1,346,157,420       80,223,060       141,025,511       110,778,084        332,026,655
         Domestic                                             1,038,300,000      58,246,600       101,588,900        98,792,500        258,628,000
         External                                               307,857,420      21,976,460        39,436,611        11,985,584         73,398,655
   Capital Expenditure (total)                              2,839,498,353      120,412,900       319,494,624       331,159,934        771,067,458
     Capital exp (Dom.financed)                               1,311,071,253      10,517,400       162,242,124       145,646,934        318,406,458
     Capital exp (Foreign financed)                           1,528,427,100     109,895,500       157,252,500       185,513,000        452,661,000
   HIPC-financed Expenditure                                  209,312,000       18,048,200        27,343,500        41,019,900         86,411,600
   MDRI-financed Expenditure                                  103,834,500       11,760,000        11,351,500         4,341,800         27,453,300

Overall balance (commitment)                               -1,149,166,250       -16,332,519      -376,784,159      -182,775,440      -575,892,118
        (percent of GDP)                                               -4.4               -0.1              -1.5              -0.7              -2.2
Road Arrears (net change)                                      -104,203,258      -118,601,154       -14,292,198       -11,554,384      -144,447,736
   o/w Commitments & certs for works done                      -104,203,258      -118,601,154       -14,292,198       -11,554,384      -144,447,736
Non-road arrears                                               -649,796,742       -16,708,078       -26,290,334       -13,365,759       -56,364,171
   o/w other outstanding payments                              -649,796,742       -16,708,078       -26,290,334       -13,365,759       -56,364,171
   o/w DACF                                                                0                 0                 0                 0                 0
   o/w GETF                                                                0                 0                 0                 0                 0
Tax Refunds                                                     -41,883,750        -2,938,571        -3,812,251        -3,360,696       -10,111,519
Overall balance (cash)                                     -1,945,050,000      -154,580,322      -421,178,943      -211,056,279      -786,815,544
        (percent of GDP)                                                -7.5              -0.6              -1.6              -0.8              -3.0
Divestiture receipts                                                     0.0                 0                 0                 0                 0
Divestiture liabilities                                                    0                 0                 0                 0                 0
Discrepancy                                                                0     -241,339,235      163,588,234         58,186,267       -19,564,734

Overall balance (incl. divestiture)                        -1,945,050,000      -395,919,557      -257,590,708      -152,870,012      -806,380,277
TABLE 1: SUMMARY OF CENTRAL GOVERNMENT OPERATIONS - 2010


                                                                             2010              2010              2010              2010              2010
                                                  12:56                   Budget               Prov.             Prov.             Prov.             Prov.
                                       14 November 2010                  Estimate               Jan.              Feb               Mar                Q1

Financing                                                         1,945,050,000.0      395,919,557       257,590,708       152,870,012       806,380,277
   Foreign (net)                                                     553,210,795        53,163,896        81,096,708        20,853,912       155,114,516
      Borrowing                                                       1,110,947,000     115,824,900       105,589,000         61,987,500       283,401,400
         Project loans                                                  695,547,000       71,470,500      105,589,000         61,987,500       239,047,000
         Programme loans                                                415,400,000       44,354,400                 0                 0        44,354,400
      Amortisation (due)                                               -557,736,206      -62,661,004       -24,492,292       -41,133,588      -128,286,884

   Exceptional financing                                             130,045,000        32,182,961                   0                 0       32,182,961
      External arrears                                                         0                 0                   0                 0                0
      Clearance                                                                0                 0                   0                 0                0
      Current (accumulation)                                                   0                 0                   0                 0                0
      Financing gap                                                            0                 0                   0                 0                0
      Traditional debt rescheduling                                            0                 0                   0                 0                0

       HIPC Relief (Cologne terms)                                     130,045,000        32,182,961                 0                 0        32,182,961

   Domestic (net)                                                  1,261,794,206       310,572,700       176,494,000       577,016,100      1,064,082,800
      Banking                                                        1,261,794,206       234,394,900         7,538,200      176,158,100         418,091,200
         Bank of Ghana                                               1,261,794,206      -179,346,000        56,509,800       -27,077,600       -149,913,800
         Comm. Banks                                                             0       413,740,900       -48,971,600      203,235,700         568,005,000
      Non-banks                                                                  0        76,177,800      168,955,800       400,858,000         645,991,600
       o/w Reduction due to HIPC-fin'd debt buyback                              0                  0                 0                 0                 0
      Other Domestic                                                             0                 0                 0                 0                0
   Other Financing                                                               0                 0                 0    -445,000,000       -445,000,000
      clawback from TOR                                                          0                                          -445,000,000     -445,000,000
      Other domestic financing                                                   0                                                                      0
      possible increase in cocoa revenue                                         0                                                                      0
      non-concessional borrowing                                                 0                                                                      0


   Net Savings due to inflation-indexed bonds                                    0                 0                 0                 0                 0
     Deferred interest payments                                                  0                                                     0                 0
     Redemption of Deferred interest paymnets                                    0                                                     0                 0


Memorandum items
Domestic revenue (bn cedis)                                          8,264,012,863       460,170,970       475,521,404       509,254,062     1,444,946,435
     (percent of GDP)                                                         31.9                1.8               1.8               2.0               5.6
Domestic expenditure (bn cedis)                                      7,944,992,943      645,500,373       472,582,972       634,380,447     1,752,463,792
     (percent of GDP)                                                         30.6                2.5               1.8               2.4               6.8
Domestic Primary balance (bn cedis)                                    319,019,920      -185,329,403         2,938,432      -125,126,385      -307,517,356
     (percent of GDP)                                                           1.2              -0.7             0.01             -0.48               -1.2
Overall balance (cash, including divestiture )                      -1,945,050,000      -395,919,557      -257,590,708      -152,870,012      -806,380,277
  (percent of GDP)                                                        -7.50000              -1.5              -1.0              -0.6               -3.1
Overall balance (cash - excluding divestiture )                     -1,945,050,000     -154,580,322      -421,178,943      -211,056,279      -786,815,544
  (percent of GDP)                                                             -7.5             -0.6              -1.6              -0.8              -3.0
Overall balance (cash,exclu divestiture and sovereign bond )        -1,945,050,000     -154,580,322      -421,178,943      -211,056,279      -786,815,544
  (percent of GDP)                                                             -7.5             -0.6              -1.6              -0.8              -3.0
Overall balance (cash, inclu divest. excluding sovereign bond )     -1,945,050,000     -395,919,557      -257,590,708      -152,870,012      -806,380,277
  (percent of GDP)                                                             -7.5             -1.5              -1.0              -0.6              -3.1
Nominal GDP                                                         25,934,000,000    25,934,000,000    25,934,000,000    25,934,000,000    25,934,000,000
Revenue (excl. grants & divest.)                                     8,264,012,863       460,170,970       935,692,374     1,444,946,435     1,444,946,435
    (cumulative)
TA BLE 2: ECONOMIC CLA SSIFICA TION OF CENTRA L GOV'T REVENUE - 2010

                                                                      2010                 2010                2010                2010                2010
                                       12:56 PM                    Budget                  Prov.               Prov.               Prov.               Prov.
                                                                  Estimate                  Jan.                Feb                 Mar                  Q1

TA XES ON INCOME & PROPERTY                                2,235,385,520           169,858,100         146,971,400         146,226,200         463,055,700
              Personal                                          938,810,800            82,472,474          86,550,524          49,762,432         218,785,430
              Self employ ed                                    103,736,000             8,028,916           9,087,213           4,720,315          21,836,444
              Companies                                         881,756,000            43,955,205          44,917,770          74,954,063         163,827,038
              Others                                            311,082,720            35,401,505           6,415,893          16,789,390          58,606,787
                                     Other direct taxes /1      249,192,720            25,737,009           4,364,677           3,474,349          33,576,035
                                     NRL (Arrears)                        0             5,326,510              22,620              16,743           5,365,873
                                     NFSL                        35,080,000             2,247,460                   0          11,488,652          13,736,112
                                     Airport tax                 26,810,000             2,090,526           2,028,596           1,809,645           5,928,767

TA XES ON DOMESTIC GOODS                                     444,304,800            29,076,730          24,458,610          33,354,320           86,889,660
              Excise Duty                                        91,904,800             3,414,230          10,135,610           8,597,220           22,147,060
              Petroleum tax                                     352,400,000            25,662,500          14,323,000          24,757,100           64,742,600
                                     o/w Debt recov ery lev y             0            3,998,652           4,193,386            3,866,328           12,058,365

TA XES ON INTERNA TIONA L TRA DE                           1,141,444,138            70,336,524          77,137,999          81,064,140         228,538,663
               Imports                                        1,089,621,800            70,336,524          72,137,999          81,064,140      223,538,663
                              Import duty                     1,089,621,800            70,336,524          72,137,999          81,064,140         223,538,663
                              Special tax                                 0                     0                   0                   0                   0
                              Other taxes /2                              0                     0                   0                   0                   0
               Exports                                        51,822,338                        0        5,000,000                      0        5,000,000
                              Cocoa                              51,822,338                     0           5,000,000                   0           5,000,000
                              Lumber                                      0                     0                   0                   0                   0

VA T                                                       1,675,350,000            89,079,396         109,695,661         126,229,400         325,004,457
                  Domestic                                      609,400,000            24,826,420          43,936,560          53,743,940         122,506,920
                  External                                    1,065,950,000            64,252,976          65,759,101          72,485,460         202,497,537

National Health Insurance Levy (NHIL)                        480,907,660            21,354,180          25,125,870          32,692,600           79,172,650
                 CEPS Collection                                216,710,000            12,726,700          12,600,900          13,645,800           38,973,400
                 VATS Collection                                121,820,000             4,555,180           8,048,670          10,092,100           22,695,950
                 SSNIT Contribution                             142,377,660             4,072,300           4,476,300           8,954,700           17,503,300

Other revenue measures                                       132,990,000              7,850,770           8,051,710           8,634,300          24,536,780
               Petroleum Debt Recov ery Lev y (DRL)                       0                      0                   0                   0                   0
               Additional Rev enue Measures                               0                      0                   0                   0                   0
               Timber Licences                                            0                      0                   0                   0                   0
               Mobile Phone Tax on Air Time/CST                132,990,000              7,850,770           8,051,710           8,634,300          24,536,780
               Vehicle Licence Renewal                                    0                      0                   0                   0                   0
               Special Tax Audit                                          0                      0                   0                   0                   0
               Licences                                                   0                                                                                  0

Import Exemptions                                            237,228,180            28,272,970          43,660,354          24,874,402           96,807,725

Tax Revenue                                                6,072,242,638           403,905,600         422,573,594         435,486,362        1,261,965,555

Non-tax revenue                                            1,916,402,565            44,342,300          40,419,800          56,178,700         140,940,800
                  Lodgement                                     1,320,702,565           4,912,300           6,749,800           9,798,700          21,460,800
                  Retention                                       595,700,000         39,430,000          33,670,000          46,380,000          119,480,000

Other revenue (deposits)                                                    0                   0                   0                   0                   0
                                                                                      392,468,000
TOTA L REVENUE                                             8,264,012,863           460,170,970         475,521,404         509,254,062        1,444,946,435

GRA NTS                                                       1,364,514,600        114,837,639          78,331,402         293,467,600         486,636,641
                  Project grants                                   832,880,100         38,425,000          51,663,500         123,525,500         213,614,000
                  Programme grants                                 296,205,000                  0          17,903,300         136,473,500         154,376,800
                  HIPC Assistance (multilaterals)                  131,595,000         46,878,039                   0          31,933,600          78,811,639
                  Multilateral Debt Relief Initiativ e (MDRI)      103,834,500         29,534,600           8,764,602           1,535,000          39,834,202
                                      International Monetary Fund            0                  0                   0                   0                   0
                                      World Bank                    93,930,000         29,534,600           8,471,144           1,535,000          39,540,744
                                      African Dev elopment Bank 9,904,500                       0             293,458                   0             293,458

TOTA L REVENUE & GRA NTS                                   9,628,527,463           575,008,609         553,852,806         802,721,662        1,931,583,077



Memorandum items
Taxes on income and property                                              8.6                  0.7                 0.6                 0.6                1.8
Taxes on domestic goods                                                   1.7                  0.1                 0.1                 0.1                0.3
Taxes on international trade                                              4.4                  0.3                 0.3                 0.3                0.9
Tax rev enue                                                             23.4                  1.6                 1.6                 1.7                4.9
Nontax rev enue                                                           7.4                  0.2                 0.2                 0.2                0.5
Domestic rev enue                                                        31.9                  1.8                 1.8                 2.0                5.6
Grants                                                                    5.3                  0.4                 0.3                 1.1                1.9
Total rev enue and grants                                                37.1                  2.2                 2.1                 3.1                7.4
Nominal GDP                                              25,934,000,000          25,934,000,000      25,934,000,000      25,934,000,000      25,934,000,000
TABLE 3: ECONOMIC CLASSIFICATION OF CENTRAL GOV'T EXPENDITURE - 2010

                                                                             2010           2010            2010            2010               2010
                                                12:56 PM                  Budget            Prov.           Prov.           Prov.              Prov.
                                                                         Estimate            Jan.            Feb             Mar                 Q1
II EXPENDITURE
Recurrent                                                        7,625,048,860       441,120,027     572,447,342     608,975,467       1,622,542,836

          Non-interest expenditure                               6,278,891,440       360,896,967     431,421,831     498,197,383       1,290,516,181

                    Wages & Salaries                             3,112,950,000         213,499,139     212,578,375     233,552,999        659,630,513
                    Goods & Services                                635,082,000        18,227,713      63,724,926     103,439,544         185,392,183
                              o/w strategic oil stocks                        0                  0               0               0                  0
                    Transfers                                     1,972,559,440       129,170,115     142,463,363     152,693,695         424,327,173
                              Pensions                             254,153,200         14,575,661      18,368,048      16,788,423          49,732,132
                              Gratuities                           103,736,000           5,484,193      7,147,607       9,275,720          21,907,520
                              Social Security                      233,406,000          26,407,291      25,914,955      26,672,749         78,994,995
                              National Health Fund (NHF)            480,907,660         15,000,000      13,702,400      28,702,400         57,404,800
                              Other transfers                       900,356,580         67,702,970      77,330,354      71,254,402        216,287,725
                                        Retention of Internally-generated funds (IGFs) 39,430,000
                                                                    595,700,000                         33,670,000      46,380,000        119,480,000
                                        Safety net for deregulation 41,494,400                   0               0               0                  0
                                        Lifeline consumers of electricity
                                                                     25,934,000                  0               0               0                  0
                                        Tax Expenditure (Exemptions)237,228,180         28,272,970      43,660,354      24,874,402         96,807,725
                              Subsidies to utility companies                  0                  0               0               0                  0
                                       o/w TOR for under-recovery/Debt        0                 0                0               0                  0
                    Reserve Fund                                    558,300,000                 0       12,655,167       8,511,145         21,166,312

          Interest Payments                                      1,346,157,420        80,223,060     141,025,511     110,778,084         332,026,655
                  Domestic                                        1,038,300,000        58,246,600      101,588,900      98,792,500        258,628,000
                  External (Due)                                    307,857,420        21,976,460       39,436,611      11,985,584         73,398,655

Capital expenditure                                         2,839,498,353            120,412,900     319,494,624     331,159,934         771,067,458
         Capital (domestic financed)                        1,311,071,253             10,517,400     162,242,124     145,646,934         318,406,458
                  Development                                1,311,071,253             10,517,400     162,242,124     145,646,934         318,406,458
                           Education Trust Fund                326,693,250                      0     19,878,900       29,940,600          49,819,500
                           Road Fund                           145,230,400            10,200,000       10,763,490       9,824,127          30,787,617
                           Petroleum Related Fund               5,186,800                 259,978         272,246         250,273             782,497
                           Dist. Ass. Common Fund              434,484,803                     0      75,349,900       50,000,000         125,349,900
                           Other cash expenditure             399,476,000                  57,422      55,977,588      55,631,934         111,666,944
                                     o/w Capital Market Borrowing Expenditure
                                                                          0                                      0               0
                           Oil-fianaced Capital Expenditure             0.0                    0.0             0.0             0.0                0.0
                  Net lending                                             0                    0               0               0                   0
                           New loans                                      0                    0               0               0                   0
                           Loan recoveries                                0                    0               0               0                   0
         Capital (foreign financed)                         1,528,427,100            109,895,500     157,252,500     185,513,000         452,661,000
HIPC financed expenditure                                     209,312,000             18,048,200      27,343,500      41,019,900          86,411,600
MDRI financed expenditure                                     103,834,500             11,760,000      11,351,500       4,341,800          27,453,300

TOTAL EXP. & NET LENDING                                       10,777,693,713        591,341,127     930,636,966     985,497,101       2,507,475,194



Memorandum items:
Recurrent                                                                    29.4             1.7             2.2             2.3                6.3
Goods and services                                                            2.4             0.1             0.2             0.4                0.7
Subvention                                                                     0.0             0.0             0.0             0.0                0.0
Transfers                                                                     7.6             0.5             0.5             0.6                1.6
Interest payments                                                             5.2             0.3             0.5             0.4                1.3
Capital                                                                      10.9             0.5             1.2             1.3                3.0
Total expenditure & net lending                                              41.6             2.3             3.6             3.8                9.7
GDP (nominal)                                                25,934,000,000 25,934,000,000 25,934,000,000 25,934,000,000             25,934,000,000

				
DOCUMENT INFO
Description: Personal Debt Relief Grants document sample