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The Vice-President, Mr Kwesi Bekoe Amissah-Arthur, has said that data available to the government do not lend credence to observations by international rating agencies such as Fitch of the United Kingdom that the Ghanaian economy is dehydrated.

"Information in the possession of the government does not, under any circumstance, lend support to the gloomy picture of the economy being painted by the international rating agencies," he said.

Speaking to newsmen at the Flagstaff House last Tuesday, the Vice-President described statements being made about the economy by the agencies as dramatic, since they did not reflect the situation on the ground.

He said the government was prepared to share with such agencies critical information on the economy which would negate assertions being made about the country’s economy.

According to him, the agencies were duty bound to constantly update information on Ghana’s economy, taking into account new developments and dynamics on the local and external fronts.

The Vice-President was optimistic that the economy would recover from its current constraints and relieve the people from hardships.

Fitch rating

Fitch, in its latest report, warned that the government would end the year spending more than what it had collected as revenue.  

It said the first quarter had already recorded a budget deficit of a little over 2.1 per cent which was financed by the Bank of Ghana.

It said for the third year running, the budget deficit would exceed 10 per cent of the total value of the economy by December 2014 .

The country's debt stood at GH¢56 billion at the end of April, this year.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.