The Minister of Finance, Ken Ofori-Atta, will submit the 2023 mid-year budget review in Parliament, today, Monday, July 31, 2023.
Originally set for July 27, 2023, the presentation was rescheduled for July 25, 2023, only to be cancelled.
“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 announced in a statement.
The presentation will give an update on the execution of the 2023 Budget, as well as insights into the first half of the year’s economic and fiscal performance.
It will go through measures put in place to stabilise the economy, encourage growth, and protect the vulnerable, as specified in the IMF-backed Post-COVID-19 Programme for Economic Growth (PC-PEG).
The budget-review statement will describe the fundamental imperatives to restore macroeconomic stability and drive Ghana’s economic transformation, with an emphasis on the forecast.
According to the Finance Ministry, the issues that will be highlighted include structural changes in expenditure commitment control and arrears clearing; debt management; financial stability; and a growth plan, among others.
“In line with usual practise, we wish to indicate that the Government will undertake Post-Budget Engagements to explain the various policy choices to the public,” the Ministry of Finance said in a statement.