On Friday, July 28, 2023, Finance Minister Ken Ofori Atta will participate in an extensive meeting with Members of Parliament.
This meeting serves as a preliminary discussion ahead of the forthcoming 2023 mid-year review and the potential presentation of a supplementary budget, which is scheduled for Monday.
Before the house, Speaker Alban Bagbin disclosed the meeting’s aim to be that,
“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.”
An extensive meeting with MPs is expected to serve as a platform for in-depth discussions and consultations regarding the upcoming mid-year review and any potential supplementary budget proposals.
In the latest update, Parliament has officially confirmed a new date for Finance Minister Ken Ofori-Atta to present the highly anticipated 2023 Mid-Year Budget Review. Originally scheduled for July 25, 2023, the presentation had to be rescheduled and will now take place on Monday, July 31, 2023.
The Mid-Year Budget Review, mandated by Article 179 of the 1992 Constitution and the Public Financial Management Act 921, provides a crucial opportunity to reassess macroeconomic targets and present a comprehensive economic outlook for the remaining fiscal year.
This budget review holds significant importance as it marks the first major financial statement of the government since Ghana secured a substantial $3 billion International Monetary Fund (IMF) extended credit facility.
During the session, Finance Minister Ken Ofori-Atta is expected to provide Parliament with updates on the measures taken by the government to stabilize the economy in the aftermath of the IMF deal.