President Mahama vows to adhere to strict fiscal discipline


President John Mahama has vowed to exercise strict fiscal discipline in 2016. 

Delivering his State of the Nation Address (SONA) to Parliament on Thursday, President John Dramani Mahama said his administration will exercise strict fiscal discipline this year to transform the negative narrative of Ghana.

Ghana has been battling to contain its spending during election years with its expenditure. 

Early this year, the International Monetary Fund (IMF) warned the country may not be able to contain its deficit being an election year. 

A number of civil societies have also expressed similar sentiments. 

President Mahama last year promised that his government will not over spend despite labor agitations among others. 

Ghana is expected to achieve a budget deficit as low as 5.3 percent to GDP under the IMF which provides a tighter fiscal space than originally anticipated; it is within this contest that we must practice an even greater degree of fiscal prudence in 2016, the bane of our economic management has been the cyclical huge election year budget deficit; it is an unfavorable narrative for which Ghana has become famous. I have assured the nation and our partners that my administration will exercise strict fiscal discipline even in this election year in order that we can transform this negative narrative of our country,” President Mahama said. 


GBC