2015 Budget: State institutions to borrow on their own

Some state institutions would from next year be asked to borrow on their own without any government guarantee.

This is one of the measures Finance Minister Seth Terkper is expected to announce in the 2015 Budget on Wednesday. 

According to some persons close the budget, the move would help bring down the public debt which is currently hovering around 66 billion Ghana cedis.

It would ensure that state institutions are more responsible on how they go about borrowing and also be responsible with funds.

Meanwhile Deputy Minister of Finance, Mona Quartey has told Joy Business the budget would come up with new measures to check the rising deficits.

“It will take into account the short term challenges that we face now, which is no secret to anyone. We do face short term challenges, budget deficit, and current account deficit. The budget will address getting those deficits under control… to ensure that we get our economy back on track,” she said.

She said the budget will also take into consideration government's three-year programme with the International Monetary Fund.