Finance Minister presents Mid-Year Budget on July 23

The Minister for Finance, Dr. Mohammed Amin Adam is expected to present the 2024 Mid-Year Budget Review to Parliament on Tuesday, July 23.

The presentation will provide an update on the implementation of the 2024 Budget, with insights into the economic and fiscal performance for the first half of the year.

The Majority Chief Whip, Frank Annoh-Dompreh made the announcement to the House when he presented the Business Statement for the upcoming week.

“Hon members, the Minister of Finance is expected to present the Mid-Year Review of the Budget Statement on Economic Policy of the government for the 2024 financial year on Tuesday, July,” he said.

The Minister emphasized that there would be no new taxes introduced in the upcoming budget review, as Parliament has already approved the necessary tax measures for the year.

Instead, he said government aims to leverage PPP arrangements to finance critical infrastructure projects, particularly in housing and road development. This approach is designed to stimulate economic growth without increasing the tax burden on citizens.

The Finance Minister, along with his directors, met with representatives from the Ghana Association of Bankers, Non-Bank Financial Institutions, Civil Society Organisations, academia, and trade associations. This engagement aimed to reinforce the commitment of the banking sector to the nation’s economic growth by deepening their involvement in PPP arrangements.

“We need to be intentional about growth. Bringing banks to help accelerate PPP in financing public investments and projects is crucial” said Dr. Amin Adam.

He highlighted the government’s limited ability to secure external credit due to efforts to maintain debt sustainability, making domestic PPP financing a key strategy.