Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, made this known to the media on Monday in Accra at the 77th regular meeting of the Monetary Policy Committee (MPC) of the Central Bank.
According to Dr. Addison, provisional data available to the bank showed that total revenue and grants from January to April 2017 were 5.4 percent of the country’s Gross Domestic Product (GDP) against a target of 6.5 percent.
Dr. Addison indicated that total expenditure over the period under review, including arrears clearance, was 6.6 percent of GDP compared to a budgeted estimate of 8.3 percent.
Financing of the deficit, equivalent to 1.5 percent of GDP, was mostly from domestic sources, he noted.
By Melvin Tarlue
A Freelance Journalist, Entrepreneur and Philanthropist. Editor-in-Chief of www.233times.com. A contributory writer for Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. He holds first degree in Bachelor of Arts from the University of Ghana; Political Science (major) and History (minor). He has also pursued MSc Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) at the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow (YALI) who studied at Clark Atlanta University on the Business and Entrepreneurship track. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morganview all posts by: Nana Kwesi Coomson
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