Mixed Reaction To Supplementary Budget Presented To Parliament

The Minister of Finance, Seth Terkper is requesting Parliament to approve GH¢1,888,230,387 as supplementary budget for the 2016 financial year. 

He indicated that the economy is getting better as debt to GDP ratio has fallen from 72 percent to 63 percent as of May this year. 

He was presenting the mid-year Budget Review to Parliament. 

Mr Terkper indicated that for the first time since the country was declared HIPC, government has been able to slow down the growth of debt to GDP ratio. 

He said government is committed to reducing the debt level.

Mr Tekper explained that the shortfall in tax revenue is as a result of the decline in commodity prices. 

He also touched on the falling prices of crude oil on the world market and it's implication on the economy. 

Meanwhile, the Executive Director of the Centre for Economic Policy Analysis, CEPA, Dr Joe Abbey says the nation is not achieving its target under the domestic market due to excessive borrowing and lack of interest in the domestic bond market. 

Dr Abbey blamed Ghana's present energy predicament on failure to resource the VRA to enable it to pay its fuel suppliers.

GBC