Finance Minister presents Mid-Year Budget today; Stabilization of economy, social protection to feature
The Mid-Year Budget Review to be presented in Parliament today July 31, 2023 by the Minister of Finance, Ken Ofori-Atta will outline the critical imperatives to restore macroeconomic stability and accelerate economic transformation.
“It will discuss policies implemented to stabilize the economy, promote growth and provide social protection for the vulnerable as outlined in the IMF-supported Post COVID-19 Programme for Economic Growth (PC-PEG),” the Ministry of Finance disclosed this in a press statement ahead of the presentation.
Originally slated for July 27, 2023, the presentation was rescheduled to July 25, 2023, only to be cancelled again and pushed to today.
The last-minute cancellation of the budget review stirred curiosity among Members of Parliament (MPs) and the public alike, with various speculations emerging about the possible reasons behind the delay.
“In accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921), the Mid-Year Fiscal Policy Review of the Budget Statement and Economic Policy of the Government of Ghana for the 2023 Financial Year, is expected to be presented to Parliament on Monday, 31st July, 2023,” the Finance Ministry noted in the statement.
Expenditures
The issues that will be highlighted include structural reforms in expenditure commitment control and arrears clearance; debt management; financial stability and a growth agenda, amongst others. The presentation will provide an update on the implementation of the 2023 Budget, with insights into the economic and fiscal performance for the first half of the year.
“In line with usual practice, we wish to indicate that Government will undertake the Post-Budget Engagements to explain the various policy choices to the public,” the Ministry added in its statement.
