Gov’t reviews 2019 budget to GHS 85.1 billion

The government of Ghana is seeking approval for extra expenditure of some GHS 6.4billion in its Mid-Year Review and Supplementary Estimates.

This was contained in the Order of Business of Parliament on Monday, 29 July 2019 ahead of the Mid-Year Review Budget presentation to parliament by Finance Minister, Ken Ofori-Atta.

In November last year, Mr Ofori-Atta had requested for GHS 78.7 billion as 2019 budget and government has revealed that there will be an upward revision of some expenditure in the Mid-Year Review Budget.

Mr Ofori-Atta is expected to touch on the financial sector’s performance, Ghana’s debt situation, domestic revenue mobilisation, and the review of the Luxury Vehicle Tax when he addresses parliament.

Apart from Ghana’s fiscal performance between January and June 2019, as well as fiscal strategy, the Finance Minister will elaborate on policies leading to an increase in industrial output, such as the agro-food sector.

Mr Ofori-Atta will also provide an overview of the 2018 and 2019 macroeconomic developments as well as analyse the country’s 2019 revenue, expenditure, and financing performance for 2019.

Ahead of the presentation, some pressure groups like The Chamber of Petroleum Consumers (COPEC) and the Minority have warned the government against the introduction of new taxes.

Source: classfmonline.com