Gov't To Present Revised Budget To Parliament Due To Fall In Oil price On International Market



Government is to go to Parliament with a revised budget, due to the fall in the price of oil on the international market. 

President John Mahama, announced this when he met the Ghanaian community as part of his three day State visit to Gaborone,Botswana. 

He stated that the current fall in oil prices means the country will suffer a revenue shortfall of nearly seven hundred million dollars into the budget. It has therefore become necessary to adjust the budget that was presented late last year. 

According to President Mahama, ones that has been done and with the IMF program on course,the country will be on a three year adjustment programme. 

President Mahama stated that the IMF injection of about nine hundred and forty million dollars will help unlock monies withheld by donors which will amount to about five hundred million dollars. 

The President however, intimated that governments prime focus is not with the monies injected into the system but how the revenues will be managed for the mutual benefit of all Ghanaian

GBC