THE 2017 BUDGET.

OUR TAX RELIEFS

• The 1% special Import Levy ABOLISHED 
• Kayayei Market Tolls ABOLISHED 
• 17.5% VAT/NHIL on financial services ABOLISHED 
• 17.5% VAT/NHIL on selected imported medicines, that are not produced locally ABOLISHED 
• 17.5% VAT/NHIL on domestic airline tickets ABOLISHED 
• 5% VAT/NHIL on Real Estate Sales ABOLISHED 
• Replaced 17.5% VAT/NHIL with 3% flat rate for traders 
• Tax credits and other incentives for businesses that hire young graduates from tertiary institutions 
• Tax incentives for Youth Enterpreneurs 
• Duty on imported Spare parts ABOLISHED 
• Corporate Income Tax to be progressively reduced from 25% to 20% in 2018.

OUR BANK SECTOR INITIATIVES 

• ESLA to accommodate all the existing legacy debts for the banking and the private sector 
• Ensure revenue streams from ESLA are appropriately used to guarantee steady cash flow for the payment of all corresponding debts 
• Increase the banking industry's minimum capital requirements and strengthen the licensing and regulatory framework 
• Introduce risk capital requirements in addition to the minimum capital requirements 
• Enhance enforcement of single obligor limits for commercial banks to minimize systemic risk 
• Support mobile money and mobile banking businesses to enhance and expand financial inclusion 

OUR CAPITAL MARKET INITIATIVES 

• Realization of gains on investments in securities listed on the GSE exempted for 2 years 
• Two years Stamp Duty Exemption for financial services industry to enable recapitalization 
• Encourage companies to list a predetermined percentage of their shares on the GSE as part of the local content policy 
• Divest SOME Government Shares in selected SOEs to ensure efficient use of public assets 

OUR SPECIAL INITIATIVES 

• Rollout National Identification Scheme 
• Provide Stimulus Package for existing distressed companies of the National Industrial Revitalization programme
• Provide National Digital Addressing System for lands and properties to improve ownership data for efficient delivery of services 
• Expand National Coverage of the E-Service Portal to ensure efficient service delivery 
• Local Content Policy 
• National Entrepreneurship and Innovative Programme
• 1 million dollar 1 constituency

KEY GOVERNMENT INTERVENTIONS TOWARDS JOBS CREATION 

• One district One factory 
• One village One dam
• Planting for food and jobs
• Water for All projects 
• Sanitation projects 
• Zongo Development Fund
• Free Public Senior High School 
• Re-institution of Allowance ( Nurses and Teachers )
• One million dollar One constituency 
• National Entrepreneurship and Innovative Programme

FREE SENIOR HIGH SCHOOL 

• Starts September 2017
• Budgeted Amount - GHc400m

ONE DISTRICT ONE FACTORY 

• To start 2017
• Over 350,000 direct and indirect jobs to be created 
• Budgeted Amount - GHc456.3m
• To provide 216 medium to large scale factories in each districts 
• To be driven by the Private Sector 

ONE VILLAGE ONE DAM

• To start 2017, to ensure all year round farming and food security 
• Budgeted Amount - GHc94.5m
• Small to Medium Scale irrigation schemes to be identified and rehabilitated e.g. Torgorme irrigation scheme 
• IWAD to increase irrigation acreage at Yagaba by 413Ha 
• Complete Phase Two of Akumadan irrigation Project in 2017.

PLANTING FOR FOOD AND JOBS CAMPAIGN 

• To start 2017
• All citizens encouraged to farm 
• Government to make available 

1. Seeds/Seedlings 
2. Fertilizer 
3. Extension services
4. Marketing 

• Expected to create 750,000 jobs in both direct and indirect employment 

ENERGY/ POWER SECTOR 

• Excise duty on petroleum ABOLISHED 
• Special Petroleum Tax Rate reduced from 17.5% to 15%
• National Electrification Levy reduced from 5% to 3%
• Public Lighting Levy reduced from 5% to 2%

RE-INSTITUTION OF ALLOWANCES ( NURSES AND TEACHERS )

• Teacher and Nursing trainee allowances to be restored in September 2017 
• 49,032 Teachers Trainees across 43 Public colleges of education to be benefited 
• 69,707 Trainee Nurses to benefit 
• Budgeted Amount - GHc252.2m

LOCAL JOB CREATION 

• Employ 30,764 in 154 Rural communities in climate change intervention 
• 40,000 Youth to be trained Cocoa farming 
• 50,000 Youth to be employed in rehabilitation, replanting mass spraying and fertilizer application
• 750 jobs to be created from the fisheries nucleus out growers scheme 
• COCOBOD pollination project to employ 30,000 Youth

MACRO ECONOMIC STABILITY FOR GROWTH AND JOBS 

• 3.6% GDP growth to 6.3%
• 15.4% inflation rate to 11.2%
• 8.7% Fiscal Deficit to 6.5%
• 6.6% current Account Deficit to 5.9%
• Foreign Reserves: 3.5 months of import cover to 3.6 months