Dr Amin Adam to present mid-year budget review on Tuesday
Dr Mohammed Amin Adam, Finance Minister, will on Tuesday, July 23, present the country’s mid-year fiscal policy review of the 2024 budget statement and economic policy to Parliament. Dr Amin Adam would do so for the first time since assuming office as Finance Minister in February, 2024, and in line with Section 28 of the […]
Dr Mohammed Amin Adam, Finance Minister, will on Tuesday, July 23, present the country’s mid-year fiscal policy review of the 2024 budget statement and economic policy to Parliament.
Dr Amin Adam would do so for the first time since assuming office as Finance Minister in February, 2024, and in line with Section 28 of the Public Financial Management Act, 2016 (Act 921).
The review would provide an update on the implementation of the 2024 budget, with insights into the economic and fiscal performance for the first half of the year, the Ministry of Finance said in a statement.
The statement noted that there would be updates on growth measures, revenue, and expenditure performance, financing, debt sustainability.
It would also apprise Parliament on the implementation of the ongoing US$3 billion International Monetary Fund (IMF) loan-supported Post Covid-19 Programme for Economic Growth (PC-PEG).
The PC-PEG is the country’s homegrown policy aimed at restoring macroeconomic stability, debt sustainability, and ensuring inclusive growth.
The Ministry indicated that the review would also highlight budget implementation for the rest of the year and a possible review of proposed policies on growth with a focus on SME growth.
Again, a status on the implementation of key government programmes, revenue measures, and expenditure controls, and financing adjustments based on the half-year performance would be provided.
Already, Dr Alex Ampaabeng, a Deputy Finance Minister, has stated that there would be no supplementary budget as well as no new taxes in the upcoming mid-year budget review.
That, he said, was to support the business community, creating the enabling space for them to thrive.
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