Mahama: We Will Implement Fiscal Discipline to Address Exchange Rate Fluctuations

John Dramani Mahama, the flagbearer of the National Democratic Congress (NDC), has promised to implement fiscal discipline to tackle exchange rate fluctuations if elected president.

Speaking to journalists in Accra on Sunday, Mahama highlighted his concerns about the current state of the country’s economy. He emphasized that the instability of the exchange rate has adversely affected businesses and increased the cost of living in Ghana.

Mahama affirmed that if elected president,“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.”