The mid-year review of the Government’s Budget statement, economic policy, and supplementary estimates for the 2023 Financial Year will be presented to Parliament today, July 31, by Minister of Finance Ken Ofori-Atta.
According to the requirements of the Public Financial Management Act 2016, the Minister of Finance is required to provide a presentation on the Economic Policy of the Government of Ghana at midyear.
The Minister of Finance presented the 2023 Economic Policy and Financial Statement to Parliament on November 24, 2022, and this document provides a review of that report.
In addition, the administration will be able to provide information on any changes to expenditures and strategies, as well as present an update to the House and the people on the state of the economy.
Since the energy and cocoa industries play such important roles in Ghana’s economy, it’s no surprise that changes to both were rumoured to be included in the mid-year budget.
According to Ministry of Finance sources, the nation’s current transformation and growth programme, which includes the energy and cocoa sector reform agenda, is meant to address immediate policy and money issues and move the country towards greater stability and prosperity.