Mid-Year Budget: Ofori-Atta To Present Mid-Year Budget Review To Parliament On July 25

• The finance minister is expected to present the mid-year budget to Parliament on July 25, 2023.
• The new date for the mid-year budget statement was contained in updates on the business of Parliament for the coming weeks.
• The Speaker of Parliament had earlier told the finance minister to bring the presentation forward from July 27, 2023.

The finance minister, Ken Ofori-Atta, has seemingly brought forward the date for the mid-year budget review, which is now to be presented to Parliament on Tuesday, July 25, 2023.

The development was made known on the floor of Parliament when the First Deputy Majority Whip, Lydia Seyram Alhassan, was outlining the business for the coming weeks.

The mid-year budget statement was earlier scheduled for July 27, 2023.

“In pursuant to the Public Financial Management Act 2016, Article 921 the Minister for Finance is expected to present the mid-year review of the budget statement on the economic policy of the Government of Ghana for the year 2023 to this house on Tuesday, July 25 2023,” she stated.

Read also

Strikes end at western Canada ports after deal reached

The Public Financial Management Act requires the finance minister to present a mid-year budget review to Parliament six months after the presentation of the budget for a given year.

Appeal from Bagbin

YEN.com.gh reported that the Speaker of Parliament, Alban Bagbin, had urged Ofori-Atta to present the mid-year budget review to Parliament earlier than scheduled.

Bagbin said the previous plan would make it difficult for MPs to go on break on time.

He explained that MPs needed to break earlier because of other official commitments.

“So this is a notice to the Minister of Finance to try as much as possible to submit the mid-year Budget and Supplementary Budget Review earlier than perceived because we have to work on it and approve it before August 10," Bagbin said earlier.

Read also

"Deal won't help TOR": Minority demands halt to move to lease refinery to a private firm

Focus of the 2023 budget

YEN.com.gh reported that the focus of the 2023 budget was on measures to stabilise the economy.

The finance ministry assured that the 2023 budget would help build resilience and promote inclusive growth and value creation in the Ghanaian economy.

It also contained updates on Ghana's engagement with the International Monetary Fund for a supported programme.

An IMF team in Ghana in June 2023 said that Ghana's economy was showing signs of improvement.

Source: YEN.com.gh