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Finance Minister set to present mid-year budget review to Parliament


  29 Juillet      2        Economy (7362),

   

Accra, July 29, GNA – The Minister of Finance Mr Ken Ofori-  Atta will present the 2019 mid-year budget review to  Parliament in accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921).

This year’s presentation would focus on issues affecting the  energy sector, alongside their planned reforms.

Another major area expected to be addressed is the financial  sector’s performance.  Ghana’s debt situation, domestic  revenue mobilization, and the review of the Luxury Vehicle

Tax would also be highlighted.

This presentation to Parliament would see an upward revision of the 2019 appropriation ceiling and its underlying

measures, in order to achieve the objectives of the 2019  budget theme of expanding the economy and increasing jobs.

Government would, therefore, seek the approval of Parliament  for supplementary estimates.

Aside from highlighting Ghana’s fiscal performance between  January and June 2019, as well as fiscal strategy going forward, this year’s Mid-Year Budget Review would touch on policies leading to increases in industrial output, such as the agro-food sector.

Roads Rehabilitation & Construction, the strengthening of  Security, and Government Priority Programmes, among others, would also be addressed.

Against the backdrop of the Ghana Beyond Aid vision, this Mid-year presentation to Parliament is expected to explain how Ghana would take advantage of the opportunities that come with the hosting of the Secretariat of the Africa Continental Free Trade Area (AfCTA).

The review would also cover a brief overview of the  macroeconomic developments (2018 & 2019); analysis of  revenue, expenditure, and financing performance for 2019; a  revised fiscal outlook for the unexpired term of the  financial year; and overview of the implementation of the  annual budget.

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