Finance Minister Dr Cassiel Ato Forson is expected to deliver the 2025 Mid-Year Budget Review to Parliament on Thursday, July 24.
This is part of the government’s legal obligation to update the country on its economic performance and fiscal strategy at the year’s halfway mark.
The announcement was made by Deputy Majority Leader George Kweku Ricketts-Hagan during the presentation of the Business Statement on the floor of Parliament on Friday, July 11.
“The mid-year again will happen on the 24th of July. I think the committee on the selection issue, Right Honourable Speaker, has been engaging with it. He is out of the jurisdiction, and so when he comes back, I am sure he will get it sorted out,” he said on the floor of the House.
The mid-year budget review is in line with Section 28 of the Public Financial Management Act, 2016 (Act 921), which mandates the Minister for Finance to update Parliament on the execution of the national budget and provide an outlook for the rest of the fiscal year.
This year’s review is expected to offer a detailed assessment of how the government has managed the economy over the first six months of 2025, including updates on revenue generation, spending, debt servicing, and policy direction. It will also outline any proposed amendments or adjustments to fiscal plans in light of current economic conditions.
The presentation is anticipated to shed light on Ghana’s macroeconomic performance, addressing issues such as inflation trends, exchange rate stability, and progress on structural reforms.
Meanwhile, the Bank of Ghana has confirmed the receipt of $367 million from the International Monetary Fund (IMF), credited to its account on Tuesday, July 9. This forms part of the fifth disbursement under the IMF’s $3 billion Extended Credit Facility programme, which Ghana entered into in May 2023.
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