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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There we GO AGAIN !!!!!!; missed revenue targets; falling commodity prices ; huge budget deficits ; we were told that this Ken Ofori-Atta was a finance genius who will bring under control our budget deficit ; stop borrowing and raise our revenue through this magic economic wand besides with Dr Bawumia around all our economic problems will be solved ; A FALSE POLITICAL ASERTION AND COMPLATE FRAUD by this NPP government ; the fact of the matter is the this government is faced with the same problem how to stop the spiral in our bdget deficit and bring borrowing under control ; the truth is that to achieve such economic objective is a complete mirage and impossible ;the economy is weak ; the task of collecting revenue is weak ; the same corrupt revenue officers are place; the government has not take the approriate actions to BLOCK the tax leakages ;the government is in a difficult position because all the government has done is to borrow to pay our short term debts with a bit extra as working capital to run the economy ; Ken Ofori Atta has no magic solutions but may have managed to STOP the over expenditure and styilling by Jon Mahama ; how can you have Jon Mahama representing AMERI in Africa and Nana Addo does NOTHING ; this northner thiff Jon Mahama should be arrested