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Business News of Wednesday, 13 July 2011

Source: GNA

Finance Minister to present mid-year review and Supplement Budget

Accra, July 13, GNA - The Minister of Finance and Economic Planning, Dr Kwabena Duffuor, will on Thursday, July 14, present the Mid-year review of the Budget Statement and Economic Policy and also Supplementary Estimates, for the 2011 financial year.

A statement signed by Abdul Hakim Ahmed, Media Liaison, Ministry of Finance and Economic Planning said, Developments since the last quarter of 2010 in the economy, had resulted in some changes in the assumptions underlying the 2011 Budget and Economic Policy presented to Parliament in November 2010.

Some of these developments include the passage of the Petroleum Revenue Management Act and the availability of additional resources.

“This has necessitated the presentation of the supplementary estimates, to seek approval for the utilization of the additional resources,” the statement said.

It said the resources will be spent on priority infrastructural and social intervention programmes, to enhance job creation.

The mid-year review is also to update Parliament on 2010 outturn, as well as progress for the first half of the year.