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CORRECTED-Ghana slashes 2015 oil revenue forecast by 64 pct on low price -fin min
March 12, 2015 / 4:41 PM / 2 years ago

CORRECTED-Ghana slashes 2015 oil revenue forecast by 64 pct on low price -fin min

(Corrects currency to cedis from US dollars)

ACCRA, March 12 (Reuters) - Ghana's finance minister said on Thursday that the forecast for oil revenues in 2015 had been slashed to 1.5 billion cedis ($416.7 million), down from 4.2 billion cedis forecast in the budget presented in November due to falling oil prices.

Finance Minister Seth Terkper told parliament the government had based its original revenue forecast on oil prices averaging $99.4 per barrel this year but was now using an IMF projection of oil at $52.8 per barrel.

Terkper also said that the oil production forecast for 2015 remained unchanged at 102,033 barrels per day.

$1=3.60 cedis (Reporting by Kwasi Kpodo; Writing by David Lewis; Editing by Daniel Flynn)

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