Advertisement
Desktop970x250
Advertisement
Desktop970x250

2020 budget deficit will exceed 15%; don’t blame COVID-19 – Terkper to Gov’t

By Laud Nartey
SHARE
1 min read
2020 budget deficit will exceed 15%; don’t blame COVID-19 – Terkper to Gov’t

Former Finance under the Mahama administration, Minister Seth Terkper, has projected the 2020 budget deficit will exceed 15 per cent.

The current budget deficit is hovering around 11.4% of Gross Domestic Product (GDP), compared with a projection of 4.7% at the end of last year.

Economic growth is also projected at 0.9%, compared with 6.8% forecast in November and 1.5% estimated in March.

The Finance Minister, Ken Ofori-Atta, told Parliament when he presented the 2020 mid-year budget statement in July this year that  the Coronavirus pandemic has impacted negatively on the economy, affecting government expenditure in all sectors of the economy.

But Mr Seth Terkper, in a tweet on Thursday August 20 said the government should not blame COVID-19 for the difficulties it is facing with the economy.

“2020 deficit will be above 15% & don’t blame COVID-19. Check 2020 Mid-Year: COVID-19 is 3% above 4.7 estimate in 2020 Budget (fully covered by IMF/WB loans & Stabex drawdown).

“The 7 to 8% (to 15%) is adding bailout/energy arrears (zero) left from 2020 Budget,” he said.

 

By Laud Nartey|editors.3news.com|Ghana

TAGGED:Covid-19

Sign up to The Daily Briefing

Stay informed with the most relevant stories shaping Ghana and the world, every morning and evening.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy.

Share This Article

Laud Nartey is an online editor with current affair team at Media General, operators of TV3 Ghana, 3News.com and more. Email: Laud.Nartey@editors.3news.com

Advertisement
Desktop300x250

Up Next

Advertisement
Desktop970x250