2018 Budget Watch: 6.3 % deficit to be achieved in 2017

Ken Ofori-Atta, Minister of Finance

The Minister of Finance Ken Ofori-Atta has told Parliament that the government of Nana Addo Dankwa Akufo-Addo’s is confident of ending the fiscal year with a deficit of 6.3 percent.

Mr. Ofori-Atta presenting the 2018 Budget and Economic Policy Statement to Parliament today said that: “I’m glad to report that we are well on course to end the year on a fiscal deficit of 6.3 percent from 9.4% in 2016”.

The Finance Minister further stated that the government has resolved to be fiscally disciplined and remain within the limit that parliament set for operation and that mark would not be exceeded.

According to him, the government will end the year with a better fiscal deficit target which is lower than the 6.5% indicated in the budget presented in March 2017.

“Mr. Speaker, we as a government will end the year with a deficit which is likely to be lower than what was approved by this house. This, I believe, is going to be the second time in a decade that government has managed to stay within its budget deficit target”.

The Minister of Finance Ken Ofori-Atta was quick to add that, the government of Nana Akufo-Addo has done enough in one year to turn around the fortunes of the Ghanaian economy, stating that, what they have achieved in one year is more than what the previous National Democratic Congress (NDC) government achieved in eight years.

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