As Ken Ofori-Atta the Finance Minister is going to present the 2018 budget to Parliament in the coming days, his main priority would be to build on the economy’s performance of the past ten months even as unite the fiscal gains made after a troubled 2016.
Ofori-Atta presented his first budget March 2, since then there are so many things happened.
This budget outcome has given government as much relief as pain. Government has done so much to overcome the administration deficits. Revenue deficit is still not resolved.
According to latest data of Ghana Statistical Service, there is a stronger overall real GDP growth of 9 % in quarter two, driven by higher oil output. Non-oil GDP growth was irregular, same as it turned out in the first quarter.
There has been improvement in macroeconomic stability so far, in the first half of the year, with most key indicators, including interest rates, inflation, the external accounts, the exchange rate, moving in the right direction and international reserves.
Latest fiscal figures show that fiscal deficit of the government, is at 3.0 % as at July, 2017. The deficit target for the end of year is 6.3 % and given the current performance, government is aligned to meet that target.
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