On Tuesday, July 25, 2023, the mid-year budget review will be announced. The original announcement of Thursday, July 27, 2023, has been changed to this day.
This significant occasion is anticipated to discuss ways to guarantee economic stability and growth as well as the government’s fiscal plans for the balance of the year.
Several significant issues have surfaced ahead of the Mid-Year Policy Review, which is set to take place on Tuesday. These issues provide light on the way Ghana’s economic environment is headed.
The economic situation is starting to show indications of stability, according to the Bank of Ghana’s review of economic and financial data for July 2023.
This positive change follows a time of turbulence and uncertainty, suggesting that the government’s policies may be working in the country’s favour.
The realisation of a trade surplus in the amount of $1.77 billion by Ghana in the first half of 2023 is a significant achievement.
Priorities for measures aimed at ensuring economic stability and promoting growth are anticipated in the mid-year budget review.
The POST COVID-19 PROGRAMME FOR ECONOMIC GROWTH (PC-PEG), which aims to improve institutions and regulations across the nation, will be one of several changes that will be highlighted as a crucial component of the mid-year policy review.
Reforms in the energy and cocoa sectors, as well as expenditure commitment control and arrears clearance, debt management, governance, tax policy, and tax administration, are just a few of the specific areas targeted for improvement.