[ 2016-07-26 ]

Homegrown policies key to achieving fiscal consolidation – Terkper
Ghana’s economy is on the road to achieving
fiscal consolidation and high budget deficit
because of government’s homegrown policies, the
Minister of Finance, Seth Terkper has revealed.

Delivering the mid-year budget review to
Parliament yesterday, the Minister noted that in
line with government’s agreement with the IMF ,
prudent measures are in place to help the country
thrive in an economy with what he describes as a
''post HIPC public debt’’ situation.

According to him, The government is living within
its means,” He said despite a slight overrun of
182.6 million cedis on wage bill, general
expenditures were being contained to take account
of the likely shortfalls in oil.

‘The launch of our homegrown policies which are
now part of the IMF program were designed to
achieve fiscal consolidation, address short term
vulnerabilities, reduce a high budget deficit as
well as stabilize and reverse the rise in the post
HIPC public debt’’ he said. According to Seth
Terkper, ‘'We can say confidently that we are on
course to achieving these goals management of
prudent fiscal, financial sectorail and monetary
policy’’ Meanwhile, the Finance Minister has
given the assurance that government is well
positioned to stay within its budget as it has
weaned itself off credit Financing from the Bank
of Ghana.

He says the position by government is in line
with moves to be fiscally sound and well managed.
According to him, government is now seeking to
find alternative sources of funding through the
Ghana Stock Exchange instead of the usual
government auctions.

Source - citifmonline.com

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