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Business News of Friday, 23 October 2020

Source: www.ghanaweb.com

Finance Minister to present 1st quarter budget for 2021 next week

The Finance Minister, Ken Ofori-Atta, is expected to appear before parliament on Wednesday, October 28, 2020, to brief the house on expenditure in advance of appropriation for January 1, 2021, to March 31, 2021.

The Majority Leader and Minister for Parliamentary Affairs, Osei Kyei-Mensah-Bonsu made this statement on Friday, October 23, 2020, when he briefed the house on its activities in the coming week.

The majority leader said the November reading is based on the fact that there is not going to be a conventional budget presentation in November as it is associated with election years.

“The Finance Minister will present to the House on Wednesday 28, 2020, and Expenditure in Advance of Appropriation that is for January 1, 2021, to March 31, 2021. The House, is also expected to consider the report by the Finance Committee and take the consequential parliamentary actions,” He said.

“As recommended during the previous presentation statements, the House is programmed to sit on Monday, October 26, 2020, and be extended beyond 2pm.”

The presentation of an advance appropriation follows from the fact that there is not going to be a conventional budget presentation in November as is associated with election years. He added.

Meanwhile, the mid-year fiscal policy review focused on key sectors of the Ghanaian economy including health, agriculture, and education with strong emphasis on COVID-19 and its devastating effects on the activities of young entrepreneurs, faith-based organisations, transportation, creative arts and media, agriculture, trade and industry, financial services, health, education, and the manufacturing industry.

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