The 2023 Budget is being read aloud in Parliament by Ken Ofori-Atta.
Ken Ofori-Atta, the Minister of Finance, said that the date on which he will give the Mid-Year Budget review in parliament is still up in the air.
As a means towards achieving this goal, the Speaker of Parliament, Alban Bagbin, has called for a meeting to take place on Friday, July 28, in order to reschedule the event.
The concerns that need to be resolved prior to the presentation will be discussed between the Minister and the Members of Parliament (MPs), according to the Speaker.
The expectation of parliament is that the presentation will take place on Monday, July 31, immediately following the meeting between the ministers, provided that there are no last-minute developments or changes.
The presentation of the mid-year budget had been slated for July 27, but Speaker Bagbin had asked for it to be moved sooner, citing a number of local and international activities involving the leadership of the House.
The presentation must take place no later than the 25th of July, 2023, as per the additional direction given by the Speaker.
The mid-year budget review is an important event on Ghana's economic calendar. It gives the government the opportunity to reevaluate its fiscal aims, revenue estimates, and expenditure plans at this point in the year.
It makes it possible to make modifications to deal with newly developing economic difficulties and to reroute the path that the country's economy will take for the rest of the year as a result of these adjustments.
Because of the lack of clarity around the date of the budget review, concerns have been voiced regarding the preparedness of the government as well as its communication methods.
It has also led to speculations and disputes regarding the probable ramifications of the delay among political stakeholders and economists.
The purpose of the Mid-Year Fiscal Policy is to conduct a review of the government's 2023 Economic Policy and Financial Statement that was presented to Parliament on November 24, 2022. This review is in accordance with Article 179 of the Constitution of 1992 and Act 921 of the Public Financial Management Act of 2016.
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