Finance Minister, Ken Ofori Atta will today present a mid-year budget review to parliament in accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921).
The Minister is expected to touch on key economic indicators such as growth rate, primary balance, budget deficit, revenue and expenditure targets among others.
Like every budget review, expectations from the public are high. Already ahead of the presentation, former Finance Minister, Seth Tepker together with some members of the Minority in parliament has said he expects Mr. Ofori Atta to furnish the house with detailed accounts of over 16 billion Cedis granted to government due to the COVID 19.
Sharing his expectations from the financial perspective, Dean of the School of Business UCC, Prof John Gatsi Gati said he expects Mr Ofori Atta to separate expenditure and borrowings on COVID 19 to account to Ghanaians.
“The expectation is that the government should provide accountability on the approvals given to the finance minister to spend money on certain projects in the country. I am specifically expecting the finance minister to separate Covid-19 expenditure and borrowing relating to Covid-19”
Prof Gatsi said he does not expect the finance minister to present any extraordinary thing to parliament especially when the year is almost nearing its end.
Prior to the review, the finance minister has hinted that the government will soon roll out unemployment benefits for Ghanaians. Details of this initiative, he mentioned, will be outlined later today in the budget review.
However, Prof Gatsi believes this could be one of the political gimmicks the minister wouldn’t miss hammering considering the fact that 2020 is an election year.
“It is obvious the finance Minister will not miss an opportunity to hammer on things that will draw credit to the government especially in an election year. The minister knows that before Covid-19 there were no jobs, but it is likely the minister in his presentation will portray that they are setting up unemployment benefits” he concluded.
Meanwhile, unlike previous budget reviews, this year’s Midyear budget reviews are welcomed with much euphoria and participation, this year’s may be different due to the roll out of COVID 19 and other measures by parliament.
Speaker of Parliament, Prof Aaron Mike Quaye has stressed that the house will consolidate the COVID 19 protocols. This includes the reduction of MPs who would be allowed access to the chamber to witness the proceedings.
Also, members of the general public will not be allowed access to the chamber.
Source: Victoria Adonu/ATLFMNEWS
