Ghana cuts 2017 budget deficit to 6.3 pct of GDP

A man trades U.S. dollars for Ghanaian cedis at a currency exchange office in Accra, Ghana, June 15, 2015. REUTERS/Francis Kokoroko

ACCRA – Ghana has lowered its 2017 budget deficit to 6.3 percent of gross domestic product (GDP) from 6.5 percent as the West African nation presses on with its fiscal consolidation, Finance Minister Ken Ofori-Atta said on Monday.

Ghana, a major commodity exporter, is under a $918 million aid programme with the International Monetary Fund to restore fiscal balance to an economy dogged by large deficits and high public debt.

Reporting by Kwasi Kpodo; Editing by Nellie Peyton and Gareth Jones

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