Ghana to miss growth targets, deficit reduction

Finance Minister of Ghana Ken Ofori-Atta. (Photo: Courtesy)

Ghana will miss its 2016 targets on growth, fiscal deficit reduction and its primary balance. It, however, intends to restore fiscal discipline and eliminate over expenditure, Finance Minister Ken Ofori-Atta has said.

The new government said this week it inherited debt from state-owned enterprises and government ministries of at least 7 billion cedis ($1.6 billion) and a budget deficit close to “double digits” compared with a 2016 target of 5 percent of GDP.