During the previous election in 2012, hikes in civil service wages
caused the deficit to mushroom, triggering a fiscal crisis that the
government is still working to overcome with the aid of an International
Monetary Fund programme.
President John Dramani Mahama of Ghana addresses attendees during the
70th session of the United Nations General Assembly at the U.N.
headquarters in New York,
Ghana's
government will not repeat mistakes made during the last election and
will maintain strict fiscal discipline ahead of the 2016 vote, President
John Mahama told parliament in an annual State of the Nation address on Thursday.
Mahama, who is seeking a second term, faces a tough battle against opposition leader Nana Akufo-Addo
during presidential elections scheduled for November. Some economists
are warning the government not to overspend in a bid to win victory.
During
the previous election in 2012, hikes in civil service wages caused the
deficit to mushroom, triggering a fiscal crisis that the government is
still working to overcome with the aid of an International Monetary Fund programme.
That
crisis, coupled with a fall in global commodity prices, has sharply
slowed growth in Ghana. Its economy is based on exports of gold, cocoa
and oil and for years it was considered one of Africa's most promising.
Power
generation will likely be another critical election issue, after years
of crippling blackouts that have hurt businesses and angered voters.
Mahama
said Ghana has added power generation capacity more quickly in the past
year than at any time in its history, but said it must act quickly to
match demand growth and ensure sustainable power supply.
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