Ghana likely to keep deficit target

GHANA would probably keep its target for the budget deficit by cutting spending when Minister of Finance Seth Terkper presented a revised budget, the head of parliament’s finance committee said yesterday. Economic growth would be cut to 2.7 percent this year from a previous estimate of 3.9 percent, James Klutse Avedzi, the chairman of the committee, said. The target for the fiscal gap would remain at 6.5 percent of gross domestic product. Avedzi is a member of the ruling National Democratic Congress. Terkper might present the revised spending plan as soon as this week after a plunge in oil prices curbed revenue. The government would probably cut capital spending and has the option to raise taxes. – Bloomberg