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General News of Monday, 24 December 2018


Parliament to impeach Finance ministers when budget deficit hits above 6%

Ken Ofori-Atta, Minister of Finance Ken Ofori-Atta, Minister of Finance

Finance ministers who supervise a budget deficit of more than 6% will now be impeached from office by Parliament beginning the next fiscal year.

This is according to the dictates of Fiscal Responsibility Bill,2018 which was passed by Parliament Saturday night.

The law seeks to cap budget deficits at a ceiling of 5%.

The move according to finance minister Ken Ofori-Atta is to engender confidence in Ghana’s economy even as it exits the IMF program.

Ranking member for the Finance Committee Cassiel Ato Forson argued provision in the law which gives Parliament the powers to impeach the finance minister when the 5% cap is exceeded by 1% may also be extended to the President and other ministers.

The House also passed the appropriation bill before rising for the Christmas break.

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