President John Dramani Mahama has restated his commitment to ensuring that government maintains its fiscal discipline, and not succumb to any election year pressures to overspend its budget.

Addressing parliament on the State of the Nation address Wednesday, February 25, 2016, he said his administration will restraint itself and leave within the budget and not overspend.

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He said "Situations where huge deficits are created in our budget after every election must stop. I will exercise strict fiscal discipline in this election year...in order that we can transform this negative narrative."

"The bane of our economic management has been the cyclical huge election year budget deficit. It is an unfavorable narrative for which Ghana has unfortunately become famous. I have assured the nation and our partners that my administration will exercise strict fiscal discipline in this election year, in order that we can also transform this negative narrative of our country".

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He added: "This year Ghana is expected to achieve a budget deficit as low as 5.3 % of GDP under the IMF extended credit facility which provides a tighter fiscal space than originally anticipated. It is within this context that we must practice an even greater degree of fiscal prudence in 2016".