Ghana slashes deficit target.

Author:Dalby, Alexa
Position:Brief article

The Ghanaian government has revised its budget deficit target from 6.5% to 7.5%, after a fall in oil prices reduced its expected revenue. Finance minister Seth Terkper said in an address to parliament that he had towered the benchmark oil price in the budget from $99.38 to $52.80, to reflect the fall in the global markets.

Ghana's budget deficit has been in double digits for the past three years, due to a combination of an inflated government wage bill and falling prices for the country's main exports--gold and oil. The country has...

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