Ken Ofori-Atta, the Finance Minister, will present the 2018 mid-year budget review before Parliament today (Thursday).
His presentation is according to Ghana’s Financial Management Administration Act which requires that the Minister for Finance appear before Parliament not after July 31, to submit a Mid-Year Fiscal Policy review.
The review is to afford the government the opportunity to declare its revision of its economic targets whose essancial components include Ghana’s macroeconomic performance and predicts the remaining half of the year. Also, it will also analyze the country’s revenue targets and expenditures.
The presentation of mid-year budget reviews although has often attracted low interests, this year’s presentation has courted a lot of buzz and controversy due to speculations of a possible announcement of an increment in VAT from 17.5 percent to 21.5 percent.
Mr. Gabby Asare Otchere-Darko, a leading member of the governing New Patriotic Party (NPP), first presented the suggestion from whose pro-NPP newspaper the New Statesman, went ahead to publish same.
Public showed mix reaction over the suggestion with majority including some stakeholders kicking against the speculated plan.
In Parliament, National Democratic Congress (NDC) members minority also announced their opposition to the speculated increment.
Cassiel Ato Forson said while speaking at the Minority’s version of a mid-year budget roundtable, the economy was heading towards dangerous terrain.
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