The Deputy Finance Minister has assured Ghanaians that the country is within its deficit target for 2021.

Speaking on Newsfile Saturday, Dr John Kumah revealed that the economy is currently achieving a 9.4 per cent fiscal deficit, which is 0.1 per cent lower than what was estimated in the 2022 budget.

"But this is below the line reporting. When you add the above-the-line reporting, including the FINSEC, the energy sector, and the contingent liabilities, you hit the 12.1.

"In 2022, we are doing above-the-line reporting and everything inclusive at 7.4 per cent," the Ejisu MP clarified.

Meanwhile, Finance Minister, Ken Ofori-Atta in his 2022 Budget presentation, said, "preliminary data for the first nine months of the year indicate that government’s fiscal operations resulted in a cash deficit of GH¢33.9 billion, equivalent to 7.7 per cent of GDP, compared to the revised target of ¢32.6 billion, equivalent to 7.4 per cent of GDP."

According to Mr Ofori-Atta, although government had good intentions of saving lives and preserving livelihood of citizens during the Covid-19 pandemic, it resulted in "elevated global debt levels."

"The provisional nominal debt stock, including financial sector bailout costs and energy sector IPPs payments, stood at ¢341.76 billion, equivalent to 77.5 per cent of GDP as at end-September 2021, up slightly from ¢291.63 billion, equivalent to 76.1 per cent in December 2020."