Ghana's parliament approves 2023 budget and revenue strategy

ACCRA (Reuters) - Ghana's parliament on Tuesday narrowly approved the proposed 2023 budget, despite ire from opposition lawmakers over the inclusion of a debt exchange programme and increased value-added tax.

Finance Minister Ken Ofori-Atta last month proposed a budget that aimed to narrow Ghana's cavernous deficit with spending cuts and new revenue-generating measures. It also included a domestic debt restructuring programme.

The West African nation's debt amounts to more than 100% of its gross domestic product, and payments to service that debt regularly range between 70% and 100% of government revenue.

Ghana is in talks with the International Monetary Fund for a support package to help relieve its debt distress.

(Reporting by Cooper Inveen; Editing by Alexander Winning)