The Business & Financial Times reports that Ghana’s deficit this year may end up at about 7% of GDP as opposed to the 5.1% that was projected.
Very few people will be surprised by this occurrence. Indeed it was one of my predictions for this year. What remains to be seen is whether the deficit will end up being between 7-8% or blow out totally all the fiscal consolidation gains we have made over the last 2 years.
The deficit also raises more questions about the late increments in public sector wages by the outgoing government and whether it will be kept by the incoming government.
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