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Ofori-Atta to submit mid-year budget review today

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Ofori-Atta to submit mid-year budget review today

Today, Monday, July 31, 2023, the Minister of Finance, Ken Ofori-Atta, will submit the 2023 mid-year budget review in Parliament.

The presentation was originally set for July 27, 2023, but was rescheduled for July 25, 2023, only to be cancelled.

“In accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921), the Mid-Year Fiscal Policy Review of the Budget Statement and Economic Policy of the Government of Ghana for the 2023 Financial Year, is expected to be presented to Parliament on Monday, 31st July 2023,” the Finance Ministry announced in a statement.

The presentation will give an update on the execution of the 2023 Budget, as well as insights into the first half of the year’s economic and fiscal performance.

It will go through measures put in place to stabilise the economy, encourage growth, and protect the vulnerable, as specified in the IMF-backed Post-COVID-19 Programme for Economic Growth (PC-PEG).

The budget-review statement will describe the fundamental imperatives to restore macroeconomic stability and drive Ghana’s economic transformation, with an emphasis on the forecast.

According to the Finance Ministry, the problems that will be highlighted include structural changes in expenditure commitment control and arrears clearing; debt management; financial stability; and a growth plan, among others.

“In line with usual practice, we wish to indicate that Government will undertake the Post-Budget Engagements to explain the various policy choices to the public,” the Ministry of Finance added in its statement.

MPs share expectations 

Members of Parliament discussed their expectations for the mid-year budget review in an interview with Citi News.

They expressed optimism that the government will lower taxes, consolidate multiple taxes, and increase financing for the educational sector and the school food scheme.

They also voiced worry about the high percentage of youth unemployment and the country’s fertiliser deficit.

Richard Kwami Sefe, Member of Parliament for Anlo, stated that fertiliser scarcity is having a severe influence on farming operations in his district.

Farmers, he claims, are being forced to pay exorbitant fertiliser costs, making it impossible for them to turn a profit. He requested that the government step in and interfere in the matter.

“My farmers as we talk now, most of them are just willing and ready to work even to do more than what they are doing. But the fertilizer, insecticides and other boosters, you will have some around but the cost is too much. In the last two years, 50kg fertilizer NPK was around GH¢98 [2021]. Last year [2022] it increased to GH¢210, this year we are going as far as GH¢450, GH¢460,” MP for Anlo lamented.

Paul Twum Barimah, Member of Parliament for Dormaa East, expressed hope that the mid-year budget review will not include any additional levies.

He stated that the economy is already stressed and that the government should focus on lowering rather than raising taxes.

“The whole country is in a spectre mood, I strongly believe this mid-year budget review will not come with any tax. My expectation is that the minister of finance should consider the current situation of Ghanaians and see how we can manage the economy,” Member of Parliament for Dormaa East envisaged.

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Ya Naa tells Bawumia to treat Mahama like his elder brother

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"It's a critical opportunity for us to demonstrate our maturity, competence, honesty, and commitment to Ghana's progress," Ya Naa Abubakari Mahama II said, adding, "You are my son, Dr. Bawumia, and your competitor, John Mahama, is also my son." You're both completely devoted to this election." The Overlord further emphasised that Dr. Bawumia and Mr. Mahama should see each other as siblings rather than adversaries. "He is not your enemy or rival, but your elder brother," Ya Naa Abubakari Mahama II said. "We have already won the elections as Northerners." Whoever wins this trophy will return home."

The Overlord of the Dagbon Traditional Area, Ya Naa Abubakari Mahama II, has asked the New Patriotic Party (NPP) flagbearer and Vice President Dr. Mahamudu Bawumia to run a clean and respectful campaign ahead of the 2024 general elections.

During a courtesy call with Dr Bawumia, Ya Naa Abubakari Mahama II emphasised the necessity of sustaining national unity and peace, whatever of party allegiance.

He reminded Dr Bawumia that his opponent, former President John Dramani Mahama, is also a Dagboni son with similar goals for the country’s growth.

“It’s a critical opportunity for us to demonstrate our maturity, competence, honesty, and commitment to Ghana’s progress,” Ya Naa Abubakari Mahama II said, adding, “You are my son, Dr. Bawumia, and your competitor, John Mahama, is also my son.” You’re both completely devoted to this election.”

The Overlord further emphasised that Dr Bawumia and Mr Mahama should see each other as siblings rather than adversaries.

“He is not your enemy or rival, but your elder brother,” Ya Naa Abubakari Mahama II said. “We have already won the elections as Northerners.” Whoever wins this trophy will return home.”

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The economy is a disaster because Bawumia is ignorant – Sam George

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He suggested the '24hr Economy' concept when he met with leaders from the country's mother workers union on Tuesday, November 7, 2023, as part of his outreach to key stakeholders in his attempt to reclaim power.

Vice President Dr Mahamudu Bawumia, the flagbearer of the New Patriotic Party (NPP), is clueless about handling the economy, according to Ningo Prampram Member of Parliament Samuel Nartey George.

Unlike Dr. Bawumia, Sam Goege stated that the National Democratic Congress (NDC) flagbearer, Former President John Dramani Mahama, is focused on how the economy would be managed.

“We have been inundated with questions of policy and policy initiatives.  John Dramani Mahama has been outlining flagship policy initiatives over the past weeks in public engagements.

“The other one, Dr Mahamudu Bawumia has only one message – John Mahama! He is so pathetic and clueless in his engagements so far it explains to us all the reasons our economy under his leadership is in shambles. Bawumia is empty and spent.

“John Mahama has a clear vision and plan to #BuildTheGhanaWeWant. PS: I am open to a factual debate on the policies outlined so far. I’m uninterested in party bots seeking to earn their daily stipend,” he tweeted while reacting to the comment by Vice President Dr Bawumia to the effect that former President Mahama does not understand what it means to have a 24-hour economy.

Sam tweet

According to Dr. Bawumia, hospitals, the Electricity Company of Ghana, the Ghana Water Company, petrol stations, and numerous chop bars are open 24 hours a day, seven days a week.

He urged Ghanaians to oppose Mr Mahama’s proposal.

Addressing a throng in Nalerigu on Monday, November 20 as part of his ‘Thank you’ trip after being chosen NPP flagbearer on November 4, Dr Bawumia remarked, “John Mahama says he has a new idea.” What is the concept? He claims to desire a 24-hour economy. He’s not even aware of the policy.

Today, our hospitals operate 24 hours a day, our power company operates 24 hours a day, our water company operates 24 hours a day, our gasoline stations operate 24 hours a day, and many chop bars operate 24 hours a day. Because of digitization, you may now transmit and receive money 24 hours a day, seven days a week… As a result, he doesn’t grasp his own policies. It makes no sense.

“So I want you to vote for me in 2024 because I will bring a new vision, I will bring a new policy. Mahama is the past, and Dr Bawumia is the future. If John Mahama was there, we would say we have a dumsor economy, you can’t have a 24-hour economy in dumsor. So, you want to vote for Dr Bawumia in 2024, we will take the country to new heights,” Dr Bawumia stated.

Mr Mahama stated that the 24-hour economy will provide work for all Ghanaians.

“The 24-hour economy I proposed is for jobs and more jobs,” the flagbearer of the National Democratic Congress (NDC) stressed.

He suggested the ’24hr Economy’ concept when he met with leaders from the country’s mother workers union on Tuesday, November 7, 2023, as part of his outreach to key stakeholders in his attempt to reclaim power.

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Mahama urges government to pay allowances owed nursing trainees

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“Let the allowance come. Wherever you are, Krobo Nursing Trainees are begging you to let their allowance come,” John Mahama appealed.

The National Democratic Congress (NDC) flagbearer, John Dramani Mahama, wants the government to settle all arrears due to nursing trainees across the country as soon as possible.

According to John Mahama, such delays generate unneeded hardship for pupils.

Mr Mahama says the government must honour its pledge to pay nursing trainee allowances to students at the Krobo Nursing Training School in the Bono Region as part of his trip.

“Nana Akufo-Addo and Bawumia have stated that they will pay the allowances.” I ask you, Nana Addo and Bawumia, if you can hear me, we here at Krobo Nursing Training School, claim you haven’t paid their allowances for two years now.”

“Let the allowance come. Wherever you are, Krobo Nursing Trainees are begging you to let their allowance come,” John Mahama appealed.

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