![]() ![]() Soft Target means a target that will suffer minimum damage and cause minimum damage to the subject vehicle in the event of a collision. Total loans received for the year 2005 was ¢4,544.6 billion over performing the Budget target by 5.3 per cent.īudget year means the financial year of the municipality for which an annual budget is to be approved in terms of section 16(1) of the MFMA īudget Period means the fiscal period for which a budget is prepared. Speaker, Total Revenue and Grants have been revised to GH¢72,477 million (16.5% of GDP) in 2021, representing a marginal 0.03 percent increase over the original 2021 Budget target of GH¢72,452 million (16.7% of GDP), and 31.5 percent higher than the 2020 outturn of GH¢55,128 million (14.4% of GDP), as shown in Table 13. Unlike 2016, where overall petroleum receipts fell short of target, the 2017 petroleum receipts exceeded the Budget target, even though some revenue projections (like gas receipts) failed to materialise. Speaker, the revisions in the Total Revenue and Grants and Total Expenditures resulted in a fiscal deficit (on cash basis) of GH¢44.1 billion (11.4% of GDP) for 2020, up from the original 2020 Budget target of GH¢18.9 billion (4.7 percent of GDP).ĭomestic VAT was 1.8 per cent above the Budget target and 25.5 per cent higher than the outturn for 2004. Speaker, Total Revenue and Grants have been revised to GH¢53.7 billion (13.9% of GDP) in 2020, representing a 20.0 percent decrease over the original 2020 Budget target of GH¢67.1 billion (16.9% of GDP), and 0.5 percent higher than the 2019 outturn of GH¢53.4 billion (15.3% of GDP), as shown in Table 17. ![]() Speaker, updated fiscal estimates indicate that revenues are expected to fall short of the 2020 Budget target by GH¢13,632 million (3.5% of revised GDP) arising from shortfalls in Petroleum Receipts of GH¢5,257 million Non-Oil Tax revenue GH¢5,108 million and Non-Tax Revenues of GH¢3,286 million. The non-interest recurrent expenditure, which stood at 15% of GDP in FY2020, represents 67% of total expenditure payments in FY2021 whereas capital expenditure maintained at 3% of GDP but stood at 14% of total expenditure payments.Wages, Salaries and Employees Benefits – the total amount spent on wages, salaries and employees benefits was Le3, 769 billion, which is 7% or Le259billion above the Budget target of Le3, 510 billion and 21% over total amount spent in FY2020. However, total income tax receipts of Le Le2, 430.6billion increased by 22% or Le 432.4billion over that of FY2020 and also compared favourably with the Budget target of Le2,405.9billion, resulting in a positive variance of Le 24.7billion. There is an adverse variance of Le 5.0 billion which is less than 1% of the FY2021 Budget target of Le1, 218.0billion. This website is run by IFA Promotion Limited, who promotes independent financial advice for consumers.This reflects the revenue collection drive by the National Revenue Authority such as the installation of the electronic cash registers for GST registered businesses. You may therefore wish to seek the services of an Independent Financial Advisor (IFA). Neither the Trustee nor the Company can give you personal financial advice, however will endeavour to provide you with all the information you need to make an informed decision. These budget planners are not designed to take the place of professional financial advice. Kingfisher Pension Trustee Limited are not responsible for the content and viewsĪlternatively you can download and print our Kingfisher Pension Scheme Budget Planner or use our Excel Budget Planner. ![]() Same assumptions as those used by the Scheme, on the advice of the Scheme Actuary. ![]() Please note, this is a generic product offered by Zurich which may not use the Do you need help keeping track of how much you spend and on what? Why not download Zurich’s free Budget Calculator? The Kingfisher SMART Pensions Calculatorįinding the money to save for your retirement may not always be easy. ![]()
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