Tag: 2019 Mid-Year Budget Review
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Finance Minister to present Mid-year budget review on July 23
The Finance Minister, Ken Ofori-Atta, is scheduled to present the mid-year budget review to parliament on Thursday 23rd July, 2020. This is in accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921). According to Citi Business News sources, the presentation of the statement on the review of government projections for the…
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Parliament approves GH¢6.37 billion supplementary budget
Parliament has voted to approve Finance Minister’s request for GH¢6.37 billion as the supplementary budget for the 2019 fiscal year. The Minister had stated that the funds are needed for the government to prosecute its planned programmes and initiatives for the second half of the year. More than GH¢6 billion of the amount approved will…
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#GHBudget: Ten things to note from the 2019 Mid-Year Budget
The Finance Minister Ken Ofori-Atta on Monday, July 29, 2019, appeared in Parliament to present government’s mid-year budget and supplementary estimates in line with the Public Financial Management Act, 2016 (PFMA) Act-921. Citi Business News unpacks the budget presented into 10 salient points. GDP growth has been revised to 7.1 percent from 7.6 percent The…
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Gov’t to annul take or pay power agreements; targets saving GH¢2.5bn annually
The Finance Minister Ken Ofori-Atta has indicated that government will from August 1, 2019, cancel all existing power purchasing agreements which require the government to pay for power even if it is not consumed. According to the Finance Minister, such arrangements largely signed under the previous government costs the government more US$500 million in power…
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Mid-year budget review: Why Ofori-Atta may plead for more money
The glee with which Finance Minister Ken Ofori-Atta announced a bundle of tax reliefs in his maiden budget in 2017 will be missing today when he delivers his 2019 mid-year budget. Government’s underperforming domestic revenue has provided enough headache rather than something to smile about. The weight of expectations on Akufo-Addo’s government is enormous —…
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Ken Ofori-Atta to present 2019 mid-year budget review to Parliament
In accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921), the Minister for Finance is expected to present the Mid-Year Review and Supplementary Estimates to Parliament on Monday 29th July, 2019. According to a Finance Ministry press release, this year’s presentation will have a particular focus on issues affecting the energy…
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Mid-year review: AGI wants excise tax on bottled water removed
The Association of Ghana Industries (AGI) is calling for an excise tax waiver on bottled water in the mid-year budget review as it would help make companies in the sector more competitive and productive. The Association said the high excise regime on bottled water, a basic necessity in the country, is a major challenge…