The  performance  of  the  country  in  terms  of  satisfying  the  four  primary  convergence  criteria  of   WAMZ  is  facing  challenges  in  meeting  them  on  sustainable  basis.  Since  2003,  the  country  has   consistently  satisfied  two  out  of  the  four  primary  criteria.  In  2007  only  one  of  the  four  primary   convergence   criteria   -­‐   Gross   External   Reserves.   End   of   period   inflation   increased   to   10   .7   percent  in  December  2007  from  about  9.9  percent  in  2006.  One  of  the  major  issues  hindering   the   attainment   of   single   digit   inflation   is   the   fuel   and   food   price   hikes   which   spontaneously   cause  inflation.   Table  4.7:  Ghana's  Status  of  Primary  Convergence  Criteria   Primary  Criteria     Target         2000       Inflation  Rate  (End  Period)   <10%      40.5        21.3     2002   2003   2004   2005   2006   2007                       June                   15.2     23.6     11.8     14.8        9.9        10.7     Fiscal  Deficit  excl.  Grants/GDP  (%)   Central  Bank  Financing  of  Fiscal   Deficit  as  %  of  previous   Gross  External  Reserves  (Months  of   Imports)   ≤4%      10.1        13.2          8.3          7.5          8.1          7.5        6.5        10.9     ≤10%            -­‐         ≥3   months        0.8        12.1              -­‐                  -­‐                  -­‐                  -­‐              -­‐              1.4          2.6          4.9          4.5          4.0        3.7          3.5     Number  of  Criteria  Satisfied                  1              -­‐                    2                2                2            2              -­‐         2001                -­‐                    1     Source:  West  African  Monetary  Institute,  Sept.2008     The   fiscal   deficit/GDP   ratio   which   has   never   been   satisfied   since   the   commencement   of   the   programme   increased   to   10.9   percent   in   2007.   The   major   challenge   facing   the   government   is   how   to   improve   budgetary   performance   through   improvements   in   revenue   mobilization   and   strict  expenditure  control.         86