Under fire Finance Minister, Ken Ofori-Atta will today, November 24, 2022, present the government’s 2023 Annual Budget Statement and Economic Policy to Parliament.
This is a constitutional exercise to be carried out by the Finance Minister on behalf of the President, Nana Addo Dankwa Akufo-Addo.
“In accordance with Article 179 of the 1992 Constitution and section 21 of the Public Financial Management Act, 2016 (Act 921) the Minister for Finance will, on behalf of the President, lay before Parliament the 2023 Annual Budget Statement and Economic Policy of Government on Thursday, 24th November 2022,” a statement from the Finance Ministry announced.
The budget according to the Ministry of Finance will focus on government’s strategies to restore and stabilize the macro economy, build resilience and promote inclusive growth and value creation.
The Ministry also said it will feature updates on Ghana’s engagement with the IMF for an IMF-supported Programme; year-to-date macro-fiscal performance of the economy; the YouStart initiative under the Ghana CARES Programme; climate action strategies; fiscal measures and debt management strategies to ensure fiscal and debt sustainability and promote growth.
Mr. Ofori -Atta’s continued clinging to the Finance Ministry has sparked massive disaffection in recent times, with some 95 New Patriotic Party Members of Parliament asking for his dismissal.
He is currently also going through a vote of censure probe by an 8-member ad-hoc Committee probing some 7 alleged financial malfeasance against him.
The Minority Caucus has also accused him of financial dishonesty and pitched him against a missing $100 million crude oil revenue, which has been corroborated by the Public Interest and Accountability Committee (PIAC).
Following threats by some Majority MPs to boycott the budget reading, the leadership of the New Patriotic Party subsequently stepped in to resolve the impasse.
Ghana is currently seeking a $3 billion bailout package from the International Monetary Fund due to the current economic crisis. Negotiations are yet to be concluded.