The Finance Minister, Ken Ofori Atta is expected to present his mid-year budget review and economic planning to Parliament today, July 31, 2017.
This is in fulfilment of the constitutional mandate requiring the Minister to give an account of the performance of the economy before the commencement of the second half of the year.
Speaking in an interview with Kwami Sefa Kayi on Peace FM morning show 'Kokrokoo', Kojo Oppong Nkrumah, Member of parliament for the Ofoase-Ayirebi constituency and Deputy Minister of Information said some key areas that Mr. Ken Ofori Atta is expected to touch on is revenue shortfalls, impact of declining commodity prices on economy, government debt levels as well as progress with the International Monetary Fund (IMF).
Government has already missed the revenue targets for the first two quarters of the year and to end the year on a good note, it is expected to review some of the set targets in the budget.
It had earlier projected about GHC 34 billion, but estimates in the first half showed a shortfall, proving right the warning sounded by some economic analysts that revenue target was too ambiguous.
Its expected revenue for the first half of the year fell below expectation, as a result, the review would brief Parliament on how it intends to revise its revenue targets.
Also expected are the implications of all the revised targets on the Medium-Term Fiscal and Expenditure Framework.
Meanwhile, the reviewed budget is expected to be approved by the House before it rises sin dine on Wednesday, August 2.
Source: Peacefmonline.com
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