Business News of 2014-06-02

Video: Terkper indentifies major causes of Ghana's fiscal deficits

Seth Terkper, Minister of Finance and Economic Planning, has outlined steps being taken by the government to consolidate the country’s financing and reassure the markets.

For the last couple of months, Ghana has suffered a series of external shocks resulting in the country being plagued with economic challenges whilst struggling with its fiscal deficit.

But Mr. Terkper told Javier Blas, Africa Editor, Economy Times, in an interview at the recently held IMF African Rising Conference in Maputo, Mozambique, that measures to control the country’s fiscal discipline have been presented to Parliament to see how best the problem can be resolved.

He mentioned four major issues which he said caused the overrun in budget deficit: the disruption of gas supply; the fall in gold and cocoa prices; only 83,000 was realized in the first crude oil although 90,000 was estimated; and the wage policy.

Watch interview Below