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Monday, October 23, 2017

The Ghana Statistical Service (GSS) is to conduct a number of surveys to enable it to collect data needed to rebase its three main economic indicators namely the Consumer Price Index (CPI), Producer Price Index and Gross Domestic Product (GDP).

As part of the process, the GSS would conduct the second phase of the Integrated Business Establishment Survey (IBES II) from November to December, and data from the survey would help in rebasing the PPI.

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The National Vocational Training Institute has been earmarked to receive GH?10 million annually from the Youth Employment Fund (YEF) to beef up their operations in providing employable skills to the youth.

Minister for Employment and Labour Relations, Haruna Iddrisu, who announced this on the floor of Parliament on Tuesday, said the decision is aimed at reducing the growing number of unemployment in the country, especially among the youth.

The amount, he said, will be captured in the 2016 Budget and subsequent financial policy statements of the government.

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Businesses should brace themselves in 2016 as they would be required to pay for some taxes that they are currently being exempted from.

This is because the finance ministry is looking at reviewing these tax exemptions as part of the 2016 budget. 

According to analysts, the country loses millions of dollars every year in revenue because of exemptions granted to some businesses. 

However with the current challenges facing the economy there is pressure on government by its development partners to review these exemptions.

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Ace Ankomah, a legal practitioner, holds the belief that many of the solutions to the country’s industrial problems are hiding in various faculties and archives of the universities.

“Why do I say that? Every year, literally hundreds of students engage in supervised project work, theses, and dissertations, all of which identify and actually solve, at least on paper, many of the problems that confront us.”

Globally, research plays a pivotal role for effective structural transformation of any country's socio-economic environment.

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Mobile money started off in Ghana tottering on the brink of little hope it will gain popularity among the public. While the promoters, mainly the mobile telecom operators, touted its potential, especially drawing on Kenya’s huge success story with the service, critics maintained that the geo-economic and demographic differences between the two countries were poles apart for Kenya’s succes to be replicated in Ghana.

 That notwithstanding, mobile money started with Airtel’s (then Zain) launch of Zap in February 2009 and later followed by MTN in the same year. As of 2012, the transaction value of Mobile money was GH¢171million.

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