Ghana's budget deficit hits 7% of GDP
He also indicated that government expenditure for 2016 was within projected target, adding that "fiscal outturn for 2016 presents challenges to the inflation outlook."
"Provisional fiscal data for the year to November 2016 indicated a budget deficit of 7.0 percent of GDP, against a target of 4.7 percent," Dr Abdul Nashiru Issahaku said on Monday during the announcement of the Monetary Policy Rate. "The fiscal slippage was mainly attributed to shortfalls in revenues."
READ MORE: Ghana’s debt rises to Gh¢119.9 bn
In 2015, the budget shortfall was 6.3 percent of GDP fuelled by low oil output, high spending on elections and the energy-industry debts of the country.
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