IMF negotiations likely to impact 2023 budget presentation - Kyei-Mensah-Bonsu

The presentation of the 2023 budget statement to parliament is likely to delay for a while as Finance Minister, Ken Ofori-Atta is still engaged in negotiations with the International Monetary Fund for financial assistance. This is according to the Majority Leader and Minister for Parliamentary Affairs, Osei Kyei-Mensah-Bonsu. According to him, the presentation which was earlier expected to take place on November 15 will now take place at later date to allow for the Finance Minister to conclude the negotiations. “As you do know, the Public Financial Act provides that the budget should be presented to the House latest by (the) 15th of this month (November). The discussions that are going on now involving the IMF, I think it is going to take a little bit of a while" “My understanding is that it (the discussion) will go into the first few days of next week, around the 10th or so. If that is the case, we then have to strand out the conclusions and factor them into the budget" “After we have succeeded in doing that because it is a budget for government it will have to go before cabinet for some discussions, integration and maybe additions and subtractions before it comes ultimately to parliament. “I believe it is going to be quite difficult to submit to the 15th (November) deadline,” he said will address the press at Parliament on Thursday, November 3, 2022. Osei Kyei-Mensah-Bonsu, who is also the Member of Parliament for Suame said this while addressing a press conference held on Thursday, November 3, 2022. The Majority leader however stated that failure to present the budget to Parliament after the November 15 deadline will not be a breach of the 1992 Constitution. Although he did provide a new date for the presentation to take place, Osei Kyei Mensah said government will need “some space to be able to do a tidy work”. MA/FNOQ