By: Deborah Amewoyi
Finance Minister, Cassiel Ato Forson will present to Parliament and the general public come Thursday, July 24, on the mid year budget review over how the country’s resources were managed over the first six months of the year since assumption of office.
As required by the law according to section 28 of the public financial management Act 2016 (Act 921) the finance minister is mandated to present a mid year report to Parliament by July 31 every year.
Significantly, the finance minister’s presentation will detail a summary of Ghana’s economy for the period since he assumed office coupled with predictions for the economy by the end of the year or even more.
Again, the mid-year budget will touch on a review of government’s expenditure and its various revenue generation models (including borrowing) for the first half of this year 2025. It would further include a revised plan for the remaining year based on the outcome of the first half of the year and how it may affect future spending plans.
The mid year budget review serves as a necessary requirement to ensure accountability to the state as well as monitor government expenditure all year round.
Based on the outcome of the presentation the ministry may request for a supplementary budget from Parliament geared towards the approval of extra funding targeted towards achieving elements present within the budget.
Most importantly the ministry must lay out how the budget and budgets of key public institutions are being implemented. To this end, many citizens will be looking out for a take on the pending request of the Ghana Registered Nurses’ and Midwives’ Association.
The government has promised to include two key allowances of nurses in the mid year budget review come July 24. These allowances will be directed towards purchasing fuel and uniforms of nurses when disbursed.
