Ken Ofori-Atta
The Minister of Finance, Ken Ofori-Atta, is set to present the 2023 mid-year budget review in Parliament today, Monday, July 31, 2023.
The presentation, which was originally scheduled for July 27, 2023, was later rescheduled to July 25, 2023, but was subsequently cancelled. The budget review 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.
The Minister is also expected to 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 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, among others.
Members of Parliament expressed their expectations for the mid-year budget review, stating that they hoped the government would reduce taxes, aggregate the various taxes, and provide more funding for the educational sector and the school feeding programme.
They also expressed concern about the high unemployment rate among young people and the country’s fertilizer shortage.
The Member of Parliament for Anlo, Richard Kwami Sefe, said that the fertilizer shortage is negatively impacting farming activities in his constituency.
He appealed to the government to intervene in the situation.
Also, the Member of Parliament for Dormaa East, Paul Twum Barimah, expressed hope that the mid-year budget review would not come with any new taxes.
He said that the economy is already under strain, and the government should focus on reducing taxes rather than increasing them.
By Vincent Kubi