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Business News Wed, 15 Nov 2017

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2018 Budget: Goverment targets 6.8 GDP growth

Government has set an overall Gross Domestic Product (GDP) growth rate target of 6.8 per cent for the 2018 fiscal year, Finance Minister Ken Ofori-Atta has revealed.

He indicated to parliament on Wednesday, 15 November that government is projecting to achieve a non-oil GDP growth rate of 5.4 per cent with an end-period inflation rate of 8.9 per cent.

The economy is expected to have an average inflation rate of 9.8 per cent, a fiscal deficit of 4.5% per cent GDP and primary balance (surplus) of 1.6 per cent of GDP.

In addition, government is seeking to gain a Gross Foreign Assets to cover at least 3.5 months of imports of goods and services.

Source: Class FM

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