Mid-Year Budget Review to stick to GH₵293 billion; No additional funds requested

The Chairman of the Parliamentary Select Committee on Economy and Development, Eric Afful has announced that the mid-year budget review will adhere strictly to the GH₵293 billion allocation set in March, emphasizing that no requests for extra funding are expected during this review.

During an engagement with journalists after Wednesday’s sitting, Committee Chairman Eric Afful explained that Finance Minister Ato Forson’s presentation will take the form of a statement rather than a motion, an indication of the government’s intention not to seek additional funds.

“The investigation I’ve done so far is that the government will not come to the House to ask for additional funds,” he stated. “We are going to stay within the appropriation of GH₵293 billion that was programmed to execute the 2025 budget. For that matter, the presentation will be done through a statement, not through a motion.”

Finance Minister Dr. Cassiel Ato Forson is scheduled to present the mid-year budget statement to Parliament today, Thursday, July 24.

The review will primarily focus on assessing major flagship initiatives, including the ambitious GH₵10.3 billion “Big Push” program and a substantial GH₵32 billion earmarked for capital projects.

However, members of the Minority Caucus have called on the Finance Minister to utilize this budget review as an opportunity to showcase genuine economic governance.

Member of Parliament for Kpandai, Mathew Nyindam raised concerns regarding the current pace of expenditure under Dr. Forson’s stewardship.

“Contractors have not been paid. Even ministries have not been given their allocations. So, if you are holding on to the money, obviously the currency will be doing better against the major currencies like the dollar.” He remarked

“So, until he begins to spend and begins to give the ministries money to spend, then we can then be measuring output. … It is only when the ministers are getting their allocations, they are getting their money, that the economy will begin to grow and grow well.” Mr. Nyindam further argued.