<<Print>>

The Finance Minister Ken Ofori Atta has stated that the Akufo-Addo led government is committed to end the fiscal year with an achievement of a fiscal deficit of 6.3 percent.

"We resolved to be fiscally disciplined and respect the limits that Parliament set for us. I am glad to report that we are on course to end the year with the fiscal deficit of 6.3 percent from 9.4 percent” he said while presenting the 2018 Budget and Financial Statement in parliament, Thursday, 15th November, 2017.

According to the Finance Minister, “Overall real GDP grew by 7.8 percent as of June against 2.7 percent in same period 2016. It is estimated to grow by 7.9 percent at end of 2017, up from the original forecast of 6.3 percent...Non-Oil real GDP grew at an estimated 4.0 percent as of June 2017 compared to 5.9 percent in the same period in 2016. Non-oil GDP growth is estimated at 4.8 percent at the end of 2017"

In addition, Mr. Ofori-Atta indicated that, government is targeting an end-of-year inflation rate of 8.0 percent, lower than the 11.2 percent targeted for 2017.

He said "achieving this objective is not only critical, but necessary if we are to maintain the healthy primary balance surplus required to eventually reduce the rate of debt accumulation.”