Presidential candidate of the National Democratic Congress (NDC), John Dramani Mahama, has stated that if elected president, he will implement budgetary discipline to address the issue of exchange rate fluctuations.
During a media engagement with journalists on Sunday, July 7, 2024, the former president criticised the country’s present economic situation.
He claimed that President Akufo-Addo has plunged the country into an abyss, leaving Ghanaians in horrible living conditions.
He emphasised that the currency rate volatility has had a substantial impact on businesses and the cost of living in Ghana.
“We would instil fiscal discipline because eventually, the main driver of the economy is fiscal discipline and fiscal consolidation. And so if you only want to ramp up revenues, but you’re not willing to cut expenditures, then you have a situation where your budget deficit is out of kilter.”
“And as you know, we had a budget deficit that went as high as 15% of GDP. And unless we instil fiscal discipline, we’ll continue to have a situation where it puts pressure on our currency.”
By: Rainbowradioonline.com/Ghana