Deloitte warns govt against spending beyond limit in election year

As Ghana approaches the December 7 elections, Deloitte has warned the government against overspending, which could jeopardize the current improvements in inflation and currency stability.

The firm's assessment notes that while inflation has decreased to 22.8% in June 2024 and the currency has shown progress, increased government expenditure and high demand for foreign currency during the election period and Christmas could threaten these gains.

Deloitte emphasizes that the IMF Program and expected World Bank support might mitigate some of these risks by bolstering foreign reserves.