Petrol and diesel may sell at ¢7 per liter each for the first time, beginning this weekend.This follows a projected 40 pesewas per litre increment in petroleum products by the Institute for Energy Security.

The World Bank is forecasting a 5.5% expansion of the Ghanaian economy in 2022. The projected growth rate is however lower than the International Monetary Fund’s 6.2% Gross Domestic Product (GDP), but higher than Sub-Saharan Africa’s average of 3.6%.

The Social Security and National Insurance Trust (SSNIT) wants broader consultations with government and labour unions over a possible increase of retirement age, from 60 to 65 years.

The International Monetary Fund is maintaining its 6.2% forecast of the expansion of the Ghanaian economy in 2022. This is bigger than the 4.7% growth rate it projected for last year.

The Ghana cedi is expected to end 2022 at ¢7.03 to the US dollar, the Center for Economics, Finance and Inequality Studies has projected. According to the Center, its forecast of the end-year depreciation of the cedi to the dollar is 99% accurate.

The Ghana Revenue Authority (GRA), has for the second time deferred the implementation of the reversal of reduction of values of imports (known as Benchmark Values) on selected items, to Monday 17th January 2022. The Authority explains that the transitional arrangements are to ensure a smooth implementation.

The Social Security and National Insurance Trust has extended the deadline for Members of the Scheme to merge their SSNIT and National Identification Cards, popularly called Ghana Card from 31st December, 2021 to 30th June, 2022. This is expected to bring a huge relief to several Ghanaian workers who are yet to merge their SSNIT and National ID Cards.

The Ghana cedi placed 14th among the league of African currencies in 2021, despite an impressive run during the first half of the year, Bloomberg tracking of African currencies has revealed. However, the local currency was classified among the currencies with the ‘worst spot returns’.

The Ghana cedi ended last year with a depreciation of a little above 9% on the retail market and 3.93% to the dollar on the interbank forex market. This performance has been described as mixed by analysts and currency traders because of the spread between the retail and interbank market.

GRA will from January 4, 2022, commence the implementation of the government's directive on the removal of the discount on the values of imports. The Minister for Finance, Ken Ofori-Atta, during the presentation of the 2022 Budget said the government will reverse the discount on value on import of goods on which the benchmark values applied because importers were not reducing the prices of goods they sold.