Mid-Year Budget To Be Presented By Finance Minister Next Month
Minister of Finance Hon. Ken Ofori Attah is expected to present the mid-year budget review and supplementary estimates to parliament next month.
According to section 28 of the public financial management act 2016, PFMA (921) , it requires that the Minister of Finance presents a mid-year budget every six months after the presentation of the main budget for the fiscal year.
A key feature for the upcoming review will be the presentation of the two supplementary estimates. This has become imperative due to the impact of covid19 pandemic on government budget.
Mr Ofori Atta is also expected to use the opportunity to review some of the key components in the 2020 budget which has been altered as a result of the economic impact of the novel corona virus pandemic.
Mr. Ofori Atta earlier this year announced that government would need about 9.5 billion cedis to fight the Covid 19 pandemic, a condition that may increase the 2020 budget deficit to over 7%.