In preparation for the much-awaited mid-year budget review and the possible presentation of a supplementary budget, Finance Minister Ken Ofori Atta will be holding a crunch meeting with Members of Parliament today, July 28, 2023.
The meeting agreed upon between the leadership of the House and the Ministry of Finance, aims to provide a platform for in-depth discussions and consultations with MPs regarding the upcoming mid-year review and any proposed supplementary budget.
Speaker of Parliament Rt Hon Alban Sumana Kingsford Bagbin, disclosed the purpose of the meeting during Tuesday’s session, stating, “On Friday, the Minister of Finance will be available to hold an intensive meeting with Members of Parliament. This is an agreement entered into between leadership and the Ministry of Finance as a prelude to the presentation of the mid-year review and possibly a supplementary budget on Monday.”
He also urged the lawmakers to avail themselves to make inputs into the Mid-year budget review.
“Basically, it will be focusing on the welfare of the country because we are going to deal with financial matters and statutory funds before the final presentation on Monday and I hope you will talk to your colleagues who are not here now to avail themselves to make inputs into what we are going to discuss with the Finance Minister,” he added.
The Mid-Year Budget Review, mandated by Article 179 of the 1992 Constitution and the Public Financial Management Act 921, holds significant importance in revising macroeconomic targets and providing a comprehensive economic outlook for the remainder of the fiscal year.
Notably, the presentation of the 2023 Mid-Year Budget Review had to be rescheduled from its initial date of July 25, 2023 and is now set to take place on Monday, July 31, 2023.
Ghanaians await this major financial statement eagerly, as it will be the first since the country secured the $3 billion International Monetary Fund (IMF) extended credit facility. During the session, Finance Minister Ken Ofori-Atta is expected to update Parliament on the government’s measures to stabilize the economy following the IMF deal.
