ACCRA, March 24 (Xinhua) -- The government of Ghana on Thursday announced an additional 10 percent cut in expenditure after a 20 percent slash in January, to achieve its 2022 budget deficit target amid global uncertainties.

       The decision was taken to reflect current global economic realities, including the impact of the Russia-Ukraine crisis, and domestic revenue mobilization challenges, Finance Minister Ken Ofori-Atta told a press conference.

       "While we are in the process of revising the 2022 fiscal framework to reflect current development, the government will pursue additional measures to ensure the achievement of the fiscal deficit target of 7.4 percent of gross domestic product (GDP)," he said.

       The measures include an additional 10 percent cut in discretionary spending by ministries, departments, and agencies and a 50 percent cut in fuel coupon allocations for all political appointees and heads of government institutions from April 1, Ofori-Atta said.

       "With immediate effect, the government has imposed a moratorium on all foreign travels, except pre-approved critical statutory travels," he said. "The government has also imposed a moratorium on the purchase of imported foreign vehicles for the rest of the year."

       The government expects to save 3.0 billion Ghana cedis (400 million U.S. dollars) from the expenditure rationalization measures, Ofori-Atta said.

       To lessen the impact of high petroleum prices on the public, the minister also announced a 1.4 percent reduction of government tax component on the price of diesel and 1.6 percent on the price of gasoline.

       The government's tax component constitutes at least 40 percent of ex-pump prices of petroleum products in Ghana.