Highlights of the 2013 Budget Statement and Economic Policy presented to Parliament on the theme: “Sustaining Confidence in the Future of the Ghanaian Economy.
* Ghana recorded a provisional GDP growth of 7.1 percent in 2012, from 14.4 percent in 2011, and 8.0 percent in 2010.
* The economy attains an overall fiscal deficit equivalent to 12.0 percent of GDP, against a target deficit equivalent to 6.7 percent of GDP.
* Headline inflation went up marginally from 8.6 percent in 2011 to 8.8 percent in 2012, continuing the record single digit inflation for more than two years.
* Interest rates on 91-day and 182-day bills went up from 10.7 percent and 11.3 percent to 22.9 percent and 22.88 percent, respectively, in December 2011 and December 2012.
* Rates on 1-year and 2-year fixed notes increased from 11.3 percent and 12.4 percent in December 2011 to 22.9 percent and 23 percent in December 2012.
* The long dated instruments such as 3-year and 5-year bonds also rose from 14 and 14.3 percent in 2011 to 24 percent and 23 percent, respectively, during the period.
* Gross international reserves stood at US$5,348.9 million at the end of 2012, compared to US$5,474.6 million in 2011 and equivalent to three months of import cover.
