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Country reportsJuly 2 2012

Ghana's finance minster: there is no virtue in irresponsible fiscal management

Having overseen rapid economic growth in the past three years, Ghana’s finance minister insists his government will maintain fiscal discipline before December’s elections. However, he believes fuel subsidies should remain in place, at least for now.
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Ghana's finance minster: there is no virtue in irresponsible fiscal managementKwabena Duffuor. finance minister, Ghana

Ghanaians have taken great delight from the strength of their economy over the past few years. The country’s gross domestic product (GDP) rose by 8% in 2010 and a huge 14% a year later, making it by some estimates the fastest growing in the world. “We pride ourselves on that,” says an analyst in Accra, the capital city.

The ruling National Democratic Congress (NDC), which came to power in 2009, hopes this economic record will help win it another term when elections are held in December. “We’ve done better in three years [than the previous government],” says Kwabena Duffuor, minister of finance and economic planning. “Why wouldn’t Ghanaians be happy with us?”

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