Mid-Year budget review postponed again

Story: News Desk

The much-anticipated Mid-Year Budget Review by the Finance Minister, Ken Ofori-Atta, has been postponed to Monday, July 31.

Originally slated for July 27, 2023, the presentation was later rescheduled to July 25, 2023, only to be cancelled again until further notice.

The last-minute cancellation of the budget review has stirred curiosity among Members of Parliament (MPs) and the public alike, with various speculations emerging about the possible reasons behind the delay.

In a communication to the house, the Speaker of Parliament, Alban Bagbin, announced that the Finance Minister would engage in an intensive meeting with the MPs on Friday, July 28, 2023, ahead of the rescheduled presentation.

Meanwhile Mr Ofori-Atta, on Monday, July 24, 2023, held a crucial meeting with the Business Community in preparation for the highly anticipated mid-year budget review, scheduled for tomorrow.

During the meeting, the Minister unveiled the Ghana mutual prosperity dialogue framework, aimed at fostering a conducive environment for investments from various sectors, including telecommunications and mining companies.

The new framework is designed to address challenges such as the poverty trap caused by low savings and investments in the country.

By providing a structured approach to investments, the government aims to initiate a new paradigm that can potentially attract substantial domestic and foreign investments, totaling up to 10 or even 20 billion Ghanaian cedis, thereby propelling economic growth.

Minister Ofori-Atta emphasized the significance of this initiative in promoting a robust economy, with a strong focus on manufacturing as an essential driver of growth.

While trading plays a crucial role in the economy, the Minister stressed the importance of bolstering domestic production and manufacturing capacities. By encouraging local manufacturing, Ghana can reduce its reliance on imports and enhance its economic self-sufficiency.

The mid-year budget review, scheduled for this month, is expected to delve further into the government’s economic policies, expenditure plans, and strategies to bolster economic growth and development.

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