Tag: Mid-Year Budget
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![Mid-year budget review 2023 [Full statement]](https://citibusinessnews.com/wp-content/uploads/2023/06/ken-ofori-Attah.jpg)
Mid-year budget review 2023 [Full statement]
The Minister of Finance, Ken Ofori-Atta on Monday, July 31, 2023, presented the mid-year budget review in Parliament. The presentation happened after it was postponed twice from July 25 to July 27 and finally to July 31. Mr. Ofori-Atta in his presentation disclosed that Ghana is currently making modest gains in turning the economy around…
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Presentation of mid-year budget review rescheduled to July 25
The Minister of Finance, Ken Ofori-Atta, is expected to present the Mid-year budget review to Parliament on Tuesday, July 25, 2023. The house had earlier announced that the mid-year budget presentation was slated for July 27. But the Speaker of Parliament, Alban Bagbin wanted the Minister to consider presenting the Mid-year budget review before July…
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Budget review: There’s room for expenditure cuts, we won’t accept tax increases – Minority
The Minority Leader, Dr Cassiel Ato Forson says his side will block any attempts by the government to increase taxes during the mid-year budget review. According to him, the NDC MPs will ensure government reduces its expenditure instead of impoverishing the already suffering Ghanaians. He insisted that there is a massive room for expenditure cuts. “I…
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Bagbin urges Ofori-Atta to present mid-year budget review before July 27
The Speaker of Parliament, Alban Bagbin wants the Finance Minister, Ken Ofori-Atta to consider presenting the Mid-year budget review before July 27, 2023, as the House intends to adjourn sine die on August 3, 2023. The Majority Leader, Osei Kyei-Mensah-Bonsu had earlier announced that the mid-year budget presentation was scheduled for July 27 with the…
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Mid-year budget review slated for July 27
Finance Minister, Ken Ofori-Atta is expected to present the Mid-Year Budget review to Parliament on Thursday, July 27, 2023. This is in accordance with Section (28) of the Public Financial Management Act, 2016 (PFMA) Act 921 which requires that the finance minister presents a Mid-Year Review to parliament six months after the presentation of the…
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Mid-Year budget: Hoteliers demand modalities on gov’t interventions amid COVID-19
Players in the hospitality industry say they expect the Finance Minister, Ken Ofori-Atta to provide clear modalities on how government intends to help their businesses bounce back in the upcoming Mid-Year budget review following the negative impact of COVID-19. At a meeting with President Akufo-Addo, the hospitality industry made up of different associations explained that…
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Gov’t likely to opt for borrowing instead of new taxes in mid-year budget – Economist
A Professor of Economics at the Institute of Statistical, Social and Economic Research (ISSER), Prof. Peter Quartey, says he doesn’t expect government to introduce new taxes in the upcoming mid-year budget presentation. The Finance Minister, Ken Ofori-Atta, is expected to present the Mid-Year Budget Review and Supplementary estimates to Parliament in July. Mr. Ofori-Atta proposed…
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No need to raise taxes in Mid-year budget; collection must improve – Tax Analyst
A Tax Analyst, Timore Francis Boi, has said there will be no justification for government to introduce new taxes or increase existing tax rates in the mid-year budget statement scheduled to be delivered in July. He says government must rather restructure the tax system to improve collection from areas that have been neglected for long,…
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Manage expectations from oil proceeds in mid-year budget – IES to Gov’t
The Institute of Energy Security, IES, has advised government to benchmark expected revenue from petroleum receipts around 35 dollars per barrel. The 2020 national budget pegged petroleum prices for export at 60 dollars per barrel. However, the outbreak of COVID-19 caused prices of crude oil on the world market to drop to as low as…
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Mid-year budget: New tax measures to yield GH¢349 million
The Finance Minister Ken Ofori-Atta presenting the mid-year budget announced a number of tax measures to make up for the poor revenue performance. According to the Minister, the Communication Service Tax popularly known as Talk Tax has been increased from six to nine percent. There were also increases in the rates of the road fund,…