Budget review for 2022: Later today, on July 25, the 2022 Mid-Year Budget Review will be presented in Parliament by Finance Minister Ken Ofori-Atta.
Due to talks between the government and the International Monetary Fund, Mr. Ofori-speech Atta’s was originally set for Wednesday, July 13, but the date was modified (IMF).
The delay was made to give the administration the chance to maybe suggest changes to the budget.
In the meanwhile, the Minister, who previously declared that the nation would not approach the IMF, is anticipated to make his first formal remarks on this choice.
He will also give details on the first half of the year’s revenue and spending trends, as well as the current budget deficit for the nation.
Some interested parties have been discussing their expectations prior to that.
For example, Mark Badu Aboagye, the Chief Executive Officer of the Ghana National Chamber of Commerce and Industry, has urged the government to use the review to maintain and enhance the investor confidence sparked by the IMF’s visits.
He asserts that even if Ghana has begun to perform better on the global market as a result of the government’s IMF declaration, the Finance Ministry needed to make announcements about measures that will boost the local market as well.
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In an interview with JoyNews, he emphasized that enhancing the local market shouldn’t be used as justification for the government to enact further oppressive taxes.
“I think after the announcement of the IMF coming in, there has been some level of confidence in the Ghanaian economy, and this has reflected in the performance of our bonds in the international market. But we also have to look at the local factor, what can we do?
“So, we’re expecting that the mid-year review we will rather also inspire more confidence in the economy, and that will come when there are proper policies that are being outlined to solve most of the challenges that we are having,” he said.
