Finance Minister has given the assurance that the President Mahama-led administration will adequately fund the Electoral Commission (EC) to successfully organise a peaceful election in 2016.

Presenting the 2016 budget on the floor of Parliament, the Minister said 2016 is significant in many respects because it will be an election year.

“2016 is significant in many respects; the country will go through presidential and parliamentary elections. Let me assure this House and the nation that the Electoral Commission and other governance institutions will be adequately resourced to ensure the conduct of free, fair and transparent elections”, Mr Terkper indicated.

He told MPs the President has taken into consideration the necessary funding the EC will need and will accordingly provide the needed resources.

He said there should be no doubt the economy benefits from a peaceful country and a peaceful election invariably benefits the country.

“Let there be no doubt, the economy benefits substantially from our peaceful and acclaimed elections.

“Despite it being an election year, let me also reiterate President Mahama’s assurance of sustaining fiscal discipline while investing prudently in infrastructure and social development. We will resist the temptation of election year overspending”, he said.

In the past fiscal deficit have shot up especially in an election year which have thrown the country's economy out of gear. 

But the President will resist election year overspending, he indicated.