The Minister of Finance, Seth Terkper, has asked Parliament to approve a supplementary budget of Ghc1.8 billion to run some programmes and policies for the rest of the year, 2016.
The request, according to Mr. Terkper, has been necessitated by the huge shortfalls in revenue generation.
The Minister on the floor of Parliament further stated that, the International Monetary Fund (IMF)programme was geared towards reducing high budget deficit and “stabilize the rise of post-HIPC public debts” adding that government is on course to achieve these objectives.
According to him, Gross Domestic Product (GDP) rate grew by 3.8 in 2015, while the economy grew at 4.9 by the first quarter of 2016, compared to 4.5% in 2015.
He further stated that, the GDP ratio fell from 72% to 63% by the end of 2015.
Cedi is stable
Mr. Terkper also noted that, the currency is fairly stable and private sector confidence is bouncing back.
In 2014, government requested for GHC 3 billion to run some programmes.
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By: Marian Ansah/citifmonline.com/Ghana
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