I WILL NOT OVER SPEND THIS YEAR – MAHAMA TELLS GHANAIAN

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President MAHAMA

President John Mahama has assured his
government will be financially prudent even as
Ghana approaches elections in November.
According to him, the practice where the
country is boxed down in huge deficits after
elections must cease.
Addressing parliament in his last State of the
Nation address Wednesday, the President said
in spite of the appetite to spend during
election years, his administration will restraint
itself and leave within the budget.
“Situations where huge deficits are created in
our budget after every election must stop. I
will exercise strict fiscal discipline in this
election year…in order that we can transform
this negative narrative,” he stated.
The government of Ghana is in a three-year
financial bailout agreement with the
International Monetary Fund (IMF). The
Bretton-Wood institution has already disbursed
two tranches of the bailout cash to Ghana.
Financial watchers have said the country’s
economy was thrown out of gear following the
reckless expenditure of the government during
the 2012 elections.
Ghana’s currency, the Cedi, has over the last
one year wobbled against the US dollar and
other major international currencies.

Source : ghanaweb.com

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