Business News Wed, 15 Nov 2017

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2018 Budget: Government to achieve 6.3 % deficit

Finance Minister Ken Ofori-Atta has said the Akufo-Addo government is poised to complete the fiscal year with an achievement of a fiscal deficit of 6.3 percent.

Presenting the 2018 Budget and Economic Policy Statement to Parliament on Wednesday, 15 November, Mr Ofori-Atta indicated 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%”.

According to him, government “resolved to be fiscally disciplined and remain within the limit” parliament set for operation and that mark would not be exceeded.

Mr Ofori-Atta stated that 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.

He emphasized that “it is only the second time in a decade that government has managed to stay within its budget deficit target”.

For him, government has been able to achieve in one year what the previous National Democratic Congress (NDC) government could not achieve in eight years.

Source: Class FM

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