Highlights Of 2010 Fiscal Year Budget Statement

Government expects a real GDP growth of 6.5 per cent and overall fiscal deficit equivalent to 7.5 per cent of GDP in 2010, the Minister of Finance and Economic Planning, Dr Kwabena Duffuor said on Wednesday. Presenting the government's fiscal and economic policy to Parliament, he said the macroeconomic targets were consistent with the macroeconomic framework. Government expects an average inflation rate of 10.5 per cent, end of period inflation of 9.2 per cent and gross international reserves of not less than 2.5 months of import cover. Dr Duffuor said the Government would put in measures to reduce importation of rice into the country by 20% in 2010 and a further reduction of 35% by 2012. He said import duties on textiles and poultry products will be rationalised to check dumping of such goods on the Ghanaian market.