The Minister for Finance, Ken Ofori-Atta, will present a review of the 2023 budget to Parliament today, in accordance with the law.
The presentation will fulfill Section 28 of the Public Financial Management Act, 2016 (Act 921) and Regulation 24 of the Public Financial Management Regulations (L.I. 2378).
The review comes after some postponements, a meeting with Members of Parliament last Friday at the instance of the leadership of both the House and the Finance Ministry.
It is not clear whether the mid-year budget review will scrap any existing taxes, request an additional supplementary budget, or deal with what was approved for the year.
It is expected that the review will reveal positive signs of stabilisation in Ghana’s economy.
According to sources at the Ministry of Finance, the economic numbers are likely to showcase improvements in various key indicators.
One of the areas of focus in the budget review is expected to be the prioritization of social protection programmes like Livelihood Empowerment Against Poverty (LEAP), School Feeding, and the National Health Insurance Scheme (NHIS).
Amid global economic uncertainties, hopes are high that the review will provide a positive outlook for Ghana’s economy and set the stage for a promising second half of the year.
