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Overcoming Ghana’s Post-election Fiscal Challenges

Opinion

23 days ago
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Fiscal mismanagement culminating in chronic fiscal deficit is at the heart of the macroeconomic challenges of a country. Over the past three decades, Ghana has consistently recorded fiscal deficit (excess government spending over revenue), particularly in election years.

Since 1992 when a general election was held to usher in the 4th Republic in January 1993, Ghana has consistently overrun its budget except for 1994 and 1995 when the country managed to record positive fiscal imbalance. Generally, fiscal deficit worsens in election years ranging between 3.2% of GDP in 2004 and 12.1% in 2012.