2018 Budget: Electricity tariff down by 13%

Residential and non-residential electricity consumers in the country are to enjoy a 13% reduction in tariff beginning January next year, Finance minister Ken Ofori Atta announced in Parliament during the 2018 budget presentation Wednesday.

Additionally, other composite charges in the tariff build-up of electricity have been reduced by the government.

The reductions in electricity tariff as contained in the 2018 budget are; Residential – Up to 13%, Non Residential – 13%, Special Load Tariff- Low Voltage – 13% ,Special Load Tariff -Medium Voltage – 11%, Special Load Tariff -High Voltage – 14%, High Voltage Mines – 21%.

The government will also aggressively pursue the national LPG promotion policy in order to streamline the sector.

The development comes on the back of assurances by President Akufo-Addo last week that Ghanaians will see a massive relief in electricity charges come next year.

Below are Other microeconomic achievements announced by the finance minister

MACROECONOMIC PERFORMANCE FOR 2017

Overall real GDP (as of June) 7.8%
Non-Oil real GDP (as of June) 4.0%
End-period inflation (as of October) 11.6%
Overall budget deficit on cash basis as percentage of GDP(Sept) 4.5%
Primary balance (Sept) 0.3%
Current account balance (August) (0.2%)
Gross International Reserves (import cover)-Sept 3.9%
End year expected deficit 6.3%

-Starrfmonline

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ABOUT: Nana Kwesi Coomson

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An Entrepreneur, Corporate Social Responsibility, Corporate Communications Executive and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. His first degree is in Bachelor of Arts - Political Science (major) and History (minor) from the University of Ghana. He holds MSc in Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) from the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track.

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