₦airaland Forum

AfriqueDuZuid:
Come with prove

Watch a video on Ghanaians and you'll see the kind of clothings we wear and you'll have an idea

AfriqueDuZuid:
Nah go check your own stats on how much Ghana imports on used clothed vs what you produce vs how much you new clothes import from china

How mush we import is insignificant compare to how much we produce here. The most worn clothings in Ghana comes from Ghanaian textile producers

rvp2018:
Try to use credible news. Hilton didnt exit Kenya. They closed shop at CBD and open a new branch.

Our budget for next year is very tame. There is just a billion dollar increase when we expect revenues to increase by almost 3 billion.

We expect ordinary revenues to increase from this year 2.4 to 2.9 trillion Kshs.

We are cutting borrow to 6 billion dollars annually in any economy at 120b dollars then. Of that 6 billion dollars - we will borrow 2 billion externally - and rest internally

I think budget deficit will be less than 5% - and we shall be in course to balance the budget soon.

which dream world are you living In?

Your govt need to borrow 12 billion dollars to fill the budget deficit... You only just got 450 million for IMF for budgetary support and youre happy?

KRA will only be able to raise 1.8 trillion kshs by year end as they've only been able to raise 750 billion half year. This means you'll be in a more serious situation than you're already in.

Your govt trying to increase taxes even higher will just lead to an exodus of businesses like we've been seeing

AfriqueDuZuid:
You import used underwear, socks, shorts, etc as part of your main economic activity.

You depend on it

not really.... The most used clothing here come from Ghana own textile industries

AfriqueDuZuid:
How bad was it? Enlighten me

Cedi recovery just saved Ghanaians from a 60% increase in the cost of electricity....

That is how bad it would have been

AfriqueDuZuid:
Like I specified on cars its mainly for collection purposes

kul

AfriqueDuZuid:
Nah

Now who is not facing facts... A simple cross checking would have prevented this

AfriqueDuZuid:
Oil prices are are down all countries are having petrol prices decrease

not as much as how they've gone down in Ghana and how much they're about to go down further because the major driver of Ghana's price increases was cedi depreciation and all of the inflation we just saw in Ghana was driven by Cedi depreciation.

AfriqueDuZuid:
When prices goes significantly go down they also at an advance

kul

AfriqueDuZuid:
We don't do used cars imports! Only import for collection/vintage purposes... We have a thriving automative industry

No used clothes imports, we have a textile industry to improve

No used computer/cell imports

actually youve had a large used clothes business for sometime now untill you had a trade row with the US over used clothing which led to a decrease.

AfriqueDuZuid:
I never said you did.

That's why commuters understand when prices go up n don't change when petrol price decrease. That's stability to the market.

Fare prices take years to increase! Stability!

if it doesn't come down, it also becomes unfair to the commuter and that is why Ghana implemented the adjustment formula to both serve commuters and operators interest.

AfriqueDuZuid:
SA never has ridiculous price increases or inflation

Taxi owners will increase if There's a need, and that's why commuters don't complain when there's an increase.

Buses and trains are mainly heavily subsidized.

We don't have fuel subsidies

I didn't say SA has ridiculous price increases
I asked why drivers should bare the cost of fuel price increases without increasing fares because you said fuel prices go up without fare increases.

So if you don't have subsides, why should the private person bare the cost of a fuel price increase without transferring it into fare increases?

AfriqueDuZuid:
Brnt crude/Oil prices are what makes petrol price increases. Ghana has budget, debt repayments, fuel price, etc issues

Anyway I think South Sudan was only one with higher inflation

yes Ghana has had an outspending budget issue but not a fuel price issue (it's a free, deregulated market) and also does not have a debt repayment issue.

AfriqueDuZuid:
Fare prices often takes times without ever increasing even even petrol price increases.

So its fair, brings stability in the market

why should drivers and vehicle owners bear the cost of fuel increases without increasing fares?

Does SA run a subside on fuel?

AfriqueDuZuid:
You wanna live in denial? Suit your self

Those are the fact and no one is in denial here.
Fuel prices is expected to drop by a further 20%-30% in the next pricing window starting 1st January

AfriqueDuZuid:
Which commodities?

You'll learn if you can study Ghana matter with a critical eye.

Anyone has study Ghana matter knows this ... Commodity prices are largely driven by just two items

Fuel prices and transportation cost... Whenever those two items fall, prices also fall.

Fuel prices is mostly driven by depreciation of the cedi and transportation cost by fuel.

AfriqueDuZuid:
Ghana had the highest inflation in the world, that's what I'm trying to show you

Ghana inflation only got to 50% , nowhere near the highest in the world.

AfriqueDuZuid:
Ghana had the highest inflation in the world, that's what I'm trying to show you

Ghana inflation only got to 50% , nowhere near the highest in the world

AfriqueDuZuid:
In SA, transport fares never come down, even if petrol prices to record lows

that's bad and unfair because transport operators will be the first to ask for an increase in prices when they see fuel prices going up

AfriqueDuZuid:
Recovery sometimes takes months or years

Wait for the quarterly economic report will take it from there

We don't have to... Ghana usually has monthly reports on certain indicators and a lot of them has seen improvement which means a speedy recovery.

AfriqueDuZuid:
The rise in the market prices were number 1 if not 2 also

number 1 was the cedi appreciation and number 2 was BOG aiding oil marketers in their trade by making finance conditions highly favourable.

GeneralDae2:
Some say Ghana used her little reserves to shore up the cedis and this is why they had to announce a halt to their external debt servicing. However, I can’t find any official report to this claim, does this have some atom of truth?

Not true
They are speculating because they don't understand how it recovered so fast.
What caused the cedi to recover that fast had to do with Ghana making dollars unavailable to certain importers hence forcing them to source products locally which immediately reduce the pressure by 2 billion dollars and creating an immediate surge in the need for the cedis which led to a shortage of cedis for a period.
This was exacerbated by progress in a 5 billion dollars worth of fuel for cedis swap agreement that will make oil marketers directly or indirectly trade fuel in cedis.

The reserves has actually increased to 9 billion dollars.

The halt to external debt servicing was actually a smart move meant to extremely drop Ghana debt burden below 50% in the next 3 to 5 years by forcing bond holders like blackrock, Franklin Templeton and co to immediately run to the negotiation table to create a favourable spread...

AfriqueDuZuid:
Fuel prices going down is a global trend
Same goes for falling inflation

Not really when the fall in prices here has been greater than the international market fall

AfriqueDuZuid:
Just wait you'll see Ghana is far from being out of the woods.

Don't take it from me ... Take it from economist and capital market analyst like Noah

"Ghana basically did a speedrun of its emerging market crisis, getting the pain over with and skipping to the recovery phase".

AfriqueDuZuid:
You saying Ghana is out of the woods is far from the truth.

Kenya new tax regime, may lead to exodus of companies changing base if they haven't started already.

It's the closest you can come to the truth..
Ghana took prudent steps to nip the cedi depreciation in the bud and now inflation has dropped massively ....
The 3 main drivers of Ghana inflation have gone down

Those are the two things that drove Ghana into a crisis.

As for Kenya, it's like they don't understand what's happening to them, they keep digging deeper into it.
The list of bankrupt companies in Kenya keep increasing and the exodus keeps growing hence the huge 6 billion capital outflows.

AfriqueDuZuid:
Refusing that a countries is facing multiple challenges is being naive.

SA, Ghana, Nigeria, Kenya ar, Tanzania are all facing issues now

don't mind them... They have an issue up head

rvp20182:
You don't understand what it means to go burst... recovery could take 20yrs and all his efforts are now wasted...how many great companies or countries have gone belly up.Dont think this some joke

Ghana has fully recovered and back stronger.
It's the fastest recovery I've seen in recent times without taking any help from anyone. That's what resilience look like.


I'm more worried for Kenya, you guys have been down for 3 years now and the problems are no near being solved. Your country has a budget deficit of almost 12 billion dollars and you guys are celebrating over budget support of 450 million from IMF
Is that even equivalent to 5% ?

You are half year out and kra has only collected 750 billion and a depreciating kshs is only making things worse for you.

Your country is not smart at all ... Who in his right mind will be subsidizing rice import by removing taxes when you can use that tax to support Kenyan rice farmers to grow more rice?

This is what being belly flat looks like

jl115:
how is that relevant specifically to Q3 of 2022 not being there?

why.. are you 2?
Follow the Convo and you'll see the relevance... Their data presentation has been messed up since then

jl115:
this dude is talking about 2007 real gdp downloads my bru.....how is this even relevant?

no he's not ... He's talking about retrieving a data of 2007 around the time the site had no data

jl115:
You are an anonymous Nairalander, it doesn't matter who you are or what you do in real life....... I could say I'm Elon Musk, would you believe me? Get the point?

Also no, as far as I am concerned the IMF figures for October contain the correct data....since you haven't proven otherwise

it's like you have a comprehension problem so let me leave you

This is someone's complain on the issue in their discussion forum

vaxx:
one thing I so much admire about this present parliament is their ability to scrutinized anything . Too open . So many africa parliament hides many thing from public . And the populace will be thinking everything is well.

But they've failed massively to control where govt channel our monies to massively.

That's is why when NDC parliamentarians come out with their hypocritical stands of vilification, I feel like slapping them..

Since they started using their power in parliament, they've been able to control the free money abuse of govt.

vaxx:
At least it shows that Ghana is serious about achieving debt external insuring by the 1st quarter of next year.

That one is not a problem at all

We've had the fastest recovery ever ...
Now parliament has to play a stronger role they've been neglecting just for their political capital and cut govt off and make sure that every money ends up expanding the manufacturing sector...

Ghana has the greatest advantage than any other country on the continent to actually become the first real industrialized economy out of Africa.