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Business News of Wednesday, 28 October 2020

Source: 3 News

Ofori-Atta presents 2021 Q1 budget statement to Parliament today

Finance Minister Ken Ofori-Atta is expected to present the government budget statement for the first quarter of the 2021 fiscal year to Parliament today, Wednesday, October 28.

He is expected to announce key decisions including measures to resuscitate the economy following the coronavirus pandemic.

In the event the governing party wins this year’s election, the government is expected to implement all the content of the budget statement as well as present the rest of the budget to cover the entire year.

The majority leader, Osei Kyei Mensha Bonsu 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.

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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