Select Page

The mid-year budget review is scheduled for July 27.

The mid-year budget review is scheduled for July 27.

On Thursday, July 27, 2023, the mid-year budget review is anticipated to be delivered to Parliament by Finance Minister Ken Ofori-Atta.

This is in compliance with Section (28) of the Public Financial Management Act, 2016 (PFMA) Act 921, which mandates that the finance minister submit a Mid-Year Review to the legislature six months after the main budget for the fiscal year is presented.

Osei Kyei Mensah Bonsu, the majority leader in parliament, revealed this today on the assembly floor.

“It is slated for Thursday, July 27, 2023. That’s the last Thursday of July and that is when we will have the mid-year budget review”, he announced.

Some industry players have already cautioned government to withdraw some tax measures in the mid-year budget review to reduce the excessive hardship on companies.

Their concern comes on the back of Parliament’s passage of the Excise Duty Amendment Bill 2022, the Growth and Sustainability Levy Bill, 2022, the Ghana Revenue Authority Bill 2022 and the Income Tax Amendment Bill 2022 – crucial components of Ghana’s $3 billion bailout from the International Monetary Fund (IMF).

But the government has said, this is aimed at improving revenue mobilization for the country.

About The Author