Mid-year budget review: Ghanaians share their expectations

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Some Ghanaians have shared their expectations as the minister of finance is set to deliver the mid-year budget review in parliament today 31/07/23.

Sharing their expectations on Plan B FM’s morning show with Nana Yaw Abrompah, some of the callers expected the minister to reduce taxes on businesses and imports to bring some relief to Ghanaians, others too want the taxes imposed on sanitation and fuel to be canceled, some too wanted E-levy to be abolished because it has lost its relevance since it couldn’t generate the expected revenue.

Others too warn the minister not to introduce new taxes again because the economic hardship has already worsened the plight of Ghanaians.

The Minister of Finance, Ken Ofori-Atta will present the 2023 mid-year budget review in Parliament today, Monday, July 31, 2023.

Originally slated for July 27, 2023, the presentation was rescheduled to July 25, 2023, only to be canceled.

“By 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 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.

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).

In focusing on the outlook, the budget-review statement will outline the critical imperatives to restore macroeconoByaccelerate Ghana’s economic transformation.

The issues that will be highlighted according to the Finance Ministry include structural reforms in expenditure commitment control and arrears clearance; debt management; financial stability and a growth agenda, amongst others.

“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 of Finance added in its statement.