UPDATE 1-Ghana president-elect says aiming for double-digit growth

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ACCRA Dec 21 (Reuters) – Ghana’s president-elect Nana
Akufo-Addo said on Wednesday he would focus on restoring
stability, cutting taxes and interest rates and spurring
double-digit growth, in his first comments on the economy since
winning a Dec. 7 vote.

Akufo-Addo, whose New Patriotic Party government is due to
be sworn in on Jan. 7, inherits an economy that has slowed
sharply since 2014, in part because prices have fallen for its
cocoa, gold and oil exports.

“We will reduce the cost of doing business, maintain fiscal
discipline, reduce government borrowing and reduce interest
rates to spur private sector investment,” he told a meeting of
private businesses in the capital, Accra.

Ghana is midway through a three-year aid deal with the
International Monetary Fund to reduce inflation, the public debt
and the budget deficit and to boost growth.

Outgoing Finance Minister Seth Terkper said on Tuesday the
government will overshoot its 2016 budget deficit target of 5
percent by two percentage points due to a shortfall in
anticipated tax revenues.

(Reporting by Kwasi Kpodo; Editing by Matthew Mpoke Bigg and
Andrew Heavens)

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