Ghana Revises Target for Fiscal Deficit Higher to 7.3% of GDP
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Ghana revised its target for the budget deficit this year to 7.3 percent of gross domestic product, wider than the initial estimate of 6.5 percent.
The forecast for government revenue and total grants was reduced to 30.5 billion ($9.2 billion) from 32.4 billion, Minister of Finance Seth Terkper said, according to a copy of his prepared remarks to Parliament. Spending was revised lower to 40.3 billion cedis from 41.2 billion cedis. The initial estimates were made in November.