fiscal deficit-to-GDP

Ghana’s fiscal deficit to Gross Domestic Product (GDP) of 9.0% was the highest in West Africa in 2022, the African Development Bank West African Economic Outlook 2023 Report has revealed. According to the report, the fiscal deficit to GDP fell by 0.2% from 9.2% in 2021. The country’s fiscal deficit, however, averaged 5.8% of GDP between 2014 and 2020. This placed it as the second highest in the ECOWAS region. According to the report, the fiscal deficit increased in all ECOWAS countries in 2021 except Guinea and Liberia where it declined by 0.4 and 2.1 percentage points, respectively. “The increase…