Mid-Year Budget Review To Focus On Macroeconomic Stability

The Finance Ministry has given indication that the Mid-Year Budget Review will outline the critical measures to restore macroeconomic stability and accelerate our economic transformation.

“The issues that will be highlighted include structural reforms in expenditure commitment control and arrears clearance; debt management; financial stability and a growth agenda, amongst others,” the Ministry pointed out in a statement issued on Friday.

Minister for Finance Mr. Ken Ofori-Atta was supposed to present the Mid-Year Fiscal Policy Review of the Budget Statement and Economic Policy of government to Parliament on 25^th July 2023.

However, the presentation was rescheduled to today Monday 31^st July, 2023 in accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921).

In the statement, the Ministry of Finance indicated that the sector minister will inform Ghanaians on the half-year performance of the economy.

“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),” the statement stressed.

It added that 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.”