General News of Wednesday, 3 April 2019Source: classfmonline.comWe’ve recorded positive primary balance for the first time in 10 years – BawumiaVice-President Dr Mahamudu BawumiaVice-President Dr Mahamudu Bawumia has said the President Nana Addo Dankwa Akufo-Addo-led government has for two years in a row achieved a positive primary balance, the first in 10 years. Primary Balance Dr Bawumia explained as tax revenue exceeding all government expenditure excluding debt service payment. He explained that a positive primary balance is important because it means "a slowing down of debt accumulation". To maintain fiscal discipline, Dr Bawumia said the government has for the first time in the country’s history passed a law - the Fiscal Responsibility Act - that limits the fiscal deficits in any year to a maximum of 5 per cent to GDP and requires by law a positive primary balance. The town hall meeting is on the theme: “Our progress, our status, our future”.

Source: GhanaWeb April 03, 2019 11:48 UTC