Business

Ofori-Atta delivers 2023 mid-year budget review today

Barring any last-minute hitches, Finance Minister, Ken Ofori-Atta is expected to deliver the government’s 2023 mid-year budget review later in parliament today.

The highly anticipated Mid-Year Fiscal Policy Review of the Budget Statement and Economic Policy will be government’s first official statement after receiving a US$ 3 billion bailout approval from the International Monetary Fund (IMF).

The presentation will provide 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 over policies put in place to stabilize the economy, encourage growth, and protect the vulnerable, as specified in the IMF-backed Post COVID-19 Programme for Economic Growth (PC-PEG).

The statement will address the fundamental imperatives to restore macroeconomic stability and drive our economic transformation by concentrating on the forecast.

Among the themes to be discussed are structural reforms in expenditure commitment control and arrears clearance; debt management; financial stability; and a growth plan.

Expectations are already high. Economic analysts are unanimous in their prediction that no new taxes will be imposed. Professor Peter Quartey is one of them.

The business community, for example, wants to know what efforts the government would take to ensure macroeconomic stability.  All traders and ordinary Ghanaians seek is economic relief.

“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.

Source: Ghana Business

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