Mid-Year Budget Expectations: NDC Communicator Mounts Pressure On Government To Deal With Energy Sector Cost To Avert A Possible Dumsor
The NDC communications officer shared his expectations for the mid-year budget review.
Freeman Koryekpor 
Deputy Eastern Regional Communications Officer of the National Democratic Congress (NDC), Mr Micheal Ofoei Alorli, has mounted intense pressure on the government of President Nana Addo Dankwa Akufo-Addo to institute pragmatic measures to completely deal with the energy sector cost to avert a possible dumsor as the Minister of Finance, Mr Ken Ofori-Atta has prepared to present the 2023 mid-year budget review in Parliament today, Monday, July 31, 2023.
Originally slated for July 27, 2023, the presentation was rescheduled to July 25, 2023, only to be cancelled.
“In accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921), the Mid-Year Fiscal Policy Review of the Budget Statement and Economic Policy of the Government of Ghana for the 2023 Financial Year, is expected to be presented to Parliament on Monday, 31st July 2023,” the Finance Ministry announced in a statement.
The presentation will provide an update on the implementation of the 2023 Budget, with insights into the economic and fiscal performance for the first half of the year.
It will discuss policies implemented to stabilize the economy, promote growth and provide social protection for the vulnerable as outlined in the IMF-supported Post COVID-19 Programme for Economic Growth (PC-PEG).
In focusing on the outlook, the budget-review statement will outline the critical imperatives to restore macroeconomic stability and accelerate Ghana’s economic transformation.
The issues that will be highlighted according to the Finance Ministry include structural reforms in expenditure commitment control and arrears clearance; debt management; financial stability and a growth agenda, amongst others.
“In line with usual practice, we wish to indicate that Government will undertake the Post-Budget Engagements to explain the various policy choices to the public,” the Ministry of Finance added in its statement.
The NDC communications officer shared his expectations for the mid-year budget review.
Following this development, he stressed the need for the government to focus on balancing the reducing expenditure through downward revision of it flagship project, governance cost and an embargo ban on new projects to reduce government over reliance on short term borrowing instrument such as treasury bills which is at all time high
He stated that the government should
expedite the creation of the FINANCIAL STABILITY FUND to recapitalize the Central Bank(BOG).
Speaking in an interview with Soirrenews.com, the NDC young outspoken politician urged the central government to initiate a broader and effective tax administration and compliance to improve revenue against the Gross domestic product
According to him, it is a high time for the government to look at how to implement the 0% financing of the central bank to anchor fiscal consolidation and a stable macroeconomic environment
He noted that the government devised strategies to revisit the GIFMIX as an effective measure of expenditure controls eg BOG expenditures
He stated that President Akufo-Addo led NPP government to ensure consistent disbursements into the Sinking Fund to deal with repayment of loans from the international capital markets
He said the the government should improve competitiveness of the private sector to boost growth especially pharmaceutical and agro processors.
He further the emphasized the urgent need for the current government to review extractive sector agreement and retention policies to improve the capital accounts.
