Speaker worried Ghana’s mid-year budget could be delayed

10 Jul 18

The speaker of Ghana’s Parliament has reminded the finance minister he must produce a mid-year budget review before the House rises on 26 July.  

Although finance minister Ken Ofori-Atta still has just over two weeks to make his presentation, speaker Mike Aaron Oquaye, who was sworn in in January 2017, said the Ghanian parliament was concerned there could be a delay, according to the Ghanaweb

Oquaye told the parliament on Friday last week: “I respectfully direct that it is conveyed to the honourable minister of finance that the House has expressed concern about the delay in the presentation of the mid-year review report to this honourable House.

“The year has concluded its first half and we want the mid-year budget review presented to the house before we rise.”

In response, Osei Kyei-Mensah-Bonsu, the chairman of the business committee of parliament, said that the finance minister is scheduled to make a presentation on 18 July.

This is in line with the country’s Public Financial Management Act, which states “the minister shall, no later than 31 July each financial year, prepare and submit to parliament a mid-year fiscal policy review”.

The review is to include a brief overview of recent macroeconomic developments of the government and an update on forecasts.

It will also include an analysis of revenue, expenditure and financing performance for a period up to the first six months of the financial year, and a revised budget outlook.

PF International is making enquiries to find out the basis for Oquaye’s concern Ofori-Atta will not meet his 26 July deadline.

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