Ghana’s Finance Minister Declares No Need for Additional Funding, Emphasizes Fiscal Strategy [Video]

Ghana will not seek supplementary funding for the remainder of the year, Finance Minister Mohammed Amin Adam announced during Tuesday’s presentation of the 2024 Mid-Year Budget Review in Parliament.

Addressing Parliament, Dr Adam emphasised the government’s commitment to strategic and intentional growth promotion. “Mr Speaker, the developments in key operations for the economy, as at mid-year, have prompted a shift in some of the assumptions underpinning the 2024 Budget presented in November 2023,” he stated.

Dr Adam highlighted changes in amortisation, interest costs due to external debt operations, and disbursement forecasts for externally funded projects. “In this regard, we will remain in the appropriation for 2024,” he added.

“Accordingly, Mr Speaker, we are not seeking supplementary funds in this Mid-Year Review. We are determined to be more efficient, strategic, and intentional to enrich and entrench fiscal consolidation and strongly promote growth,” Dr. Adam affirmed.

Watch the full presentation