JemohGh 
The Bank of Ghana’s Monetary Policy Report – July 2024 has expressed that industrial consumption of electricity declined Slightly by 1.2 percent in May 2024 to 295.71 gigawatts, as against 299.23 gigawatts recorded for the comparing time frame in 2023.
In combined terms, the report said, power consumed by ventures for the initial five months of 2024 diminished by 7% to 1,399.80 gigawatts, from 1,505.47 gigawatts for the relating time frame a year prior.
With assembling exercises the report said that exercises in the assembling sub-area, measured by patterns in the assortment of direct expenses and confidential area laborers’ commitments to the Social Security and National Insurance Trust (SSNIT) Pension Scheme (Level 1), worked on in May 2024.
All out direct assessments expanded by 43.7 percent (year-on-year) to GH¢4.11 billion in May 2024, comparative with GH¢2.86 billion kept in May 2023, it said.
Aggregately, the report added, complete direct taxes collected for the initial five months of 2024 went up by 31.6 percent to GH¢22.19 billion, contrasted with ¢16.86 billion kept in the initial five months of 2023. As far as commitments of the different sub-charge categories, income tax (PAYE and self employed) represented 48.8 percent, corporate duty represented 38.4 percent, while “other expense sources” contributed 12.8 percent.
The Bank of Ghana’s Monetary Policy Report – July 2024 has expressed that industrial consumption of electricity declined Slightly by 1.2 percent in May 2024 to 295.71 gigawatts, as against 299.23 gigawatts recorded for the comparing time frame in 2023.
In combined terms, the report said, electricity consumed by industries for the initial five months of 2024 diminished by 7% to 1,399.80 gigawatts, from 1,505.47 gigawatts for the relating time frame a year prior.
With assembling exercises the report said that activities in the manufacturing sub-sector, checked by patterns in the collection of direct taxes and private sector workers’ commitments to the Social Security and National Trust (SSNIT) Pension Scheme (Level 1), worked on in May 2024.
Absolute direct taxes increase by 43.7 percent (year-on-year) to GH¢4.11 billion in May 2024, comparative with GH¢2.86 billion kept in May 2023, it said.
Aggregately, the report added, absolute direct taxes collected for the initial five months of 2024 went up by 31.6 percent to GH¢22.19 billion, contrasted with ¢16.86 billion kept in the initial five months of 2023. As far as commitments of the different sub-tax categories, income tax (PAYE and self employed) represented 48.8 percent, corporate expense represented 38.4 percent, while “other assessment sources” contributed 12.8 percent.
“Complete private sector workers’ commitment to the SSNIT Pension Scheme (Level 1) expanded by 39.6 percent in year on-year terms to GH¢470.92 million in May 2024, comparative with GH¢337.23 million collected during the relating time frame in 2023. Aggregately, for the initial five months of 2024, the commitment developed by 28.8 percent to GH¢1.97 billion, comparative with GH¢1.53 billion kept in a similar period in 2023,” the report said.
Movement in the construction sub-area, pushed by the volume of cement deals, increased by 10.6 percent (year-on year) to 235,050.55 tons in May 2024, up from 212,584.38 tons recorded a year prior. On a month-on-month premise, all out cement deals increased by 13.2 percent in May 2024 contrasted and the 207,691.74 tons kept in April 2024.
Notwithstanding, for the initial five months of 2024, deals declined insignificantly by 2.3 percent to 1,132,654.32 tons, from 1,158,854.69 tons for a similar time of 2023. The general improvement in absolute concrete deals, year-on-year, was because of an increase in development exercises during the audit time frame.
With vehicle registration, the report said that transport sector activities, measured by new vehicle registration by the Driver and Vehicle Licensing Authority (DVLA), increased year-on-year by 36.1 percent to 16,220 in May 2024. In total, the quantity of vehicles registered by the DVLA inside the initial five months of 2024 increased by 10.2 percent to 83,878, from 76,115 recorded a year prior.
“Passenger arrivals improved by 12.7 percent in year-based on year conditions to 98,205 in May 2024, up from 87,156 appearances recorded a year prior. Contrasted with April 2024, passenger arrivals went up by 8.1 percent. For the initial five months of 2024, there were 497,048 arrivals recorded at the worldwide airport and the land borders, contrasted and 419,206 for the comparing time frame in 2023, addressing a development of 18.6 percent.
“International trade at the country’s two main harbors (Tema and Takoradi), as estimated by loaded holder traffic for inbound and outbound compartments, improved during the period under survey. Complete compartment traffic increased by 9.4 percent, year-on-year, to 59,639 in May 2024, up from 54,538 in May 2023. In combined terms, complete holder traffic for the initial five months of 2024 went up by 14.2 percent to 284,745.
