Parliament has postponed the 2022 Mid-Year Budget Review which was scheduled for Wednesday, 13 July 2022 over IMF discussions.
Finance Minister Ken Ofori-Atta was scheduled to give an update on the country’s revenue and expenditure targets in Parliament on Wednesday, July 13, 2022.
The postponement comes at the back ongoing bailout discussions with the International Monetary Fund (IMF) on the country’s economy, which are yet to be concluded.
The Majority Leader Osei Kyei-Mensah-Bonsu explained on Tuesday, July 7, that due to the engagements with the International Monetary Fund (IMF), it will be appropriate to extend the date since the Minister of Finance and his team are major players in the ongoing discussion.
“It cannot be held next week because the Speaker of Parliament has also indicated that he will not be available hence the postponement to July, 27,” he indicated.
Mr Kyei-Mensah-Bonsu, who is also the Member of Parliament (MP) for Suame, therefore, urged his colleagues to make themselves available for the presentation.
In view of the high cost of living, including food and transportation in the country, “it is the expectation of the honourable members of the House that the Finance Minister will use the opportunity to announce some relief measures the government is putting in place to cushion Ghanaians”.
The public sector compensation/wage will take the centre stage of his presentation, given that workers are demanding a 20% Cost of Living Allowance (COLA) at a time when the government has initiated discussions with the International Monetary Fund (IMF) for a bailout.
Mr Ofori-Atta is expected to give an update on the state of the economy with particular reference to what led to the decision to seek support from the IMF to help revitalize the economy.
He will also give a sneak peek into the government’s Enhanced Economic Program which is being used as a template to earn support from the IMF.
This is to help provide direction on how the government on its own intended to address the high debt challenges, mounting expenditures and sluggish revenue growth.
It will enable the public to appreciate the form of support that the government expects from the IMF, given the challenges the government will enumerate.