Finance Minister, Ken Ofori-Atta will today, November 24, 2022, present the government’s 2023 Annual Budget Statement and Economic Policy to Parliament.
This is in accordance with Article 179 of the 1992 Constitution and section 21 of the Public Financial Management Act, 2016 (Act 921).
“In accordance with Article 179 of the 1992 Constitution and section 21 of the Public Financial Management Act, 2016 (Act 921) the Minister for Finance will, on behalf of the President, lay before Parliament the 2023 Annual Budget Statement and Economic Policy of Government on Thursday, 24th November 2022,” a statement from the Finance Ministry announced.
According to the Ministry of Finance it will focus on government’s strategies to restore and stabilize the macro economy, build resilience and promote inclusive growth and value creation.
It will also feature updates on Ghana’s engagement with the IMF for an IMF-supported Programme; year-to-date macro-fiscal performance of the economy; the YouStart initiative under the Ghana CARES Programme; climate action strategies; fiscal measures and debt management strategies to ensure fiscal and debt sustainability and promote growth.
Mr. Ofori-Atta is currently going through a vote of censure probe by an 8-member ad-hoc Committee probing some 7 alleged financial malfeasance against him.
The Minority Caucus has also accused him of financial dishonesty and pitched him against a missing $100 million crude oil revenue, which has been corroborated by the Public Interest and Accountability Committee (PIAC).
Majority Rescind Decision To Boycott 2023 Budget
Majority Caucus in Parliament has rescinded its decision to boycott the 2023 budget reading if it is going to be presented by Finance Minister Ken Ofori Atta.
98 New Patriotic Party (NPP) Members of Parliament had demanded a different person to read the budget statement and the immediate dismissal of Ken Ofori-Atta or boycott any government business.
Last week, the Member of Parliament for Asante Akyem North, Andy Appiah-Kubi, who doubles as Spokesperson for the group speaking in an interview on Peace FM's morning show 'Kokrokoo' said, "we are not only going to boycott the budget presentation, we are also not going to be part of any business done through him and that is our position now".
However, it appears the gang of 98 have backtracked on their earlier action. This was after a marathon Council of Elders intervention.
A statement dated November 22, 2022, jointly signed by the Majority Chief Whip, Annoh-Dompreh, and the General Secretary of the NPP, Justin Kodua Frimpong, moments after the crunch leadership meeting said "it has been agreed by all to refocus and recline to the earlier position requested by President Akufo-Addo.
Per the statement, the following agreement has been reached:
1. The demand be stood down until the conclusion of the round of negotiations with the International Monetary Fund (IMF) which would feed into the 2023 Budget;
2. The presentation of the 2023 Budget Statement and Economic Policy on the 24th November 2022 by the Finance Minister on behalf of the President; and
3. The subsequent presentation and passage of the Appropriation Bill
The meeting agreed that the President would act upon the initial request of the NPP Parliamentary Caucus after the conclusion of these matters.