On Wednesday, 28th October, the Finance Minister, Ken Ofori Atta will present to parliament an advanced budget that will cover government spending for the first quarter of 2021.
What to expect
The advanced budget presentation is part of a standard procedure conducted in election years to prevent any form of challenges during government’s transition in the first three months in the year after elections. The presentation is expected to give into detail the projected revenue and expenditure for the first three months of next year.
This announcement came on Friday, October 23, 2020, when the Majority Leader and Minister for parliamentary affairs briefed the House on its upcoming activities.
“the Finance Minister will present to the House on Wednesday 28, 2020 an 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.”
What this means is that there is not going to be the conventional budget presentation in November, as is associated with election years.
“As recommended during the previous presentation statements, the House is programmed to sit on Monday, October 26, 2020, and be extended beyond 2 pm,” Osei-Kyei Bonsu said.
Parliament in July, approved a little over GH¢11.8 billion to support government expenditure after the Mid-Year Budget review and supplementary estimates were presented by the Finance Minister.
This came as a result of the government’s projection of the 2020 financial year affected by the novel coronavirus pandemic.
The mid-year budget review focused strongly on COVID-19 and its associated impact on small and medium scale enterprises as well as large firms, entrepreneurs, the creative arts industry, agriculture, health, education, manufacturing among others.
The Finance Minister announced the requirement of some GH¢9.5 million by the government to fight the COVID-19 pandemic.