John
Dramani
Mahama,
the
flagbearer
of
the
National
Democratic
Congress
(NDC),
has
pledged
to
instil
fiscal
discipline
to
address
the
issue
of
exchange
rate
fluctuations
if
elected
as
president.
Addressing
journalists
in
Accra
on
Sunday,
Mahama
expressed
concern
over
the
current
state
of
the
country’s
economy.
He
pointed
out
that
the
instability
of
the
exchange
rate
has
had
a
significant
impact
on
businesses
and
the
cost
of
living
in
Ghana.
But
he
said
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.”
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