Finance Minister to present Mid-Year Budget review on July 13
The Minister for Finance, Ken Ofori-Atta is expected to present the Mid-Year Budget Review in Parliament on 13 July 2022.
The Majority Leader, Osei Kyei-Mensah-Bonsu revealed this in Parliament on Friday, July 1, 2022.
The budget review, which is in accordance with Article 179 of the 1992 Constitution and the Public Financial Management Act 921, presents the opportunity to revise macroeconomic targets and present a comprehensive economic outlook for the rest of the year.
This is normally based on inflows and outflows within the first six months of the year.
The government is expected to announce interventions to recover the economy and provide a supplementary estimate for the 2022 financial year.
Seeking IMF support
It is also expected that the minister will use the occasion to formally announce the government’s engagement with the International Monetary Fund (IMF).
On Friday, President Akufo-Addo authorised Ofori-Atta to commence formal engagements with the International Monetary Fund (IMF).
A statement signed by the Information Minister, Kojo Oppong Nkrumah said “This follows a telephone conservation between the president and the IMF managing director, Kristalina Georgieva, conveying Ghana’s decision to engage with the Fund”