The finance minister Mr Emmanuel Seth Terkper has touted the Mahama-led administration's performance 's in the country's economy, saying the  prospects remain bright.

The outgoing Government, according to Mr Terkper, is leaving behind an economy with a positive Gross Domestic Product (GDP) growth of around 4 percent as fiscal consolidation measures are bearing fruits.

Speaking at a news conference on  Tuesday, the  minister stated that Ghana had been following a path of financial consolidation and investing in Real Sectors, with the economic indicators showing a turn-around and a stabilization of its economic rating to B+.

He disclosed that deficit had reduced from 11.5 per cent of Gross Domestic Product (GDP) in 2012 to 6.3 per cent of GDP in 2015, and that the exchange rate had stabilized while the rate of growth of the Debt Stock had also stabilized and reversed for the third year running, adding that measures put in place such as the International Monetary Fund's (IMF's) Extended Credit Facility (ECF) arrangement and the Home-Grown policies had been effective in addressing the challenges facing the economy.

 He said the Oil and Gas sector was performing well and that from the beginning of next year, Gas was expected to flow from the TEIN Oilfield which would help stabilize power supply.

He further disclosed that tax laws had been reformed and an integrated Information and Technology (IT) system put in place to support Tax Administration, adding the Government was in the process of passing Regulations to support Tax Administration while special initiatives such as a new Tax Audit system and a Transfer Pricing Unit had been established to enhance effective and efficient tax administration.

 He said Government was leaving a legacy of improved treasury management, prudent investment of public funds, using the stock market to issue long-term bonds and the use of commercial loans to finance the construction of social infrastructure, adding  that for the first time since the colonial era, Government had been able to run a fiscal programme without Central Bank support.

Mr Terkper stressed the need to improve upon Debt management and to plan two years ahead of national elections so as not to financially overburden the election year.

By:Fiifi Abdul Malik