2023 budget will delay due to IMF negotiations - Majority Leader

Majority Leader and Minister for Parliamentary Affairs, Osei Kyei-Mensah-Bonsu, has disclosed that the Minister of Finance, Ken Ofori-Atta, will not be able to present the 2023 budget before the November 15 deadline. According to him, the budget will belay because the ongoing International Monetary Fund (IMF) negotiation, which is likely not to be completed on time, will have to be factored into it (the budget). “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 while addressing the press at Parliament on Thursday, November 3, 2022. Osei Kyei-Mensah-Bonsu, who is also the Member of Parliament for Suame, further stated that presenting the budget to Parliament after the November 15 deadline will not be a breach of the 1992 Constitution. Even though he did not give a date for the presentation of the budget, he said that the government would need “some space to be able to do a tidy work”. Watch the majority leader’s remarks below: Watch the latest episode of The Lowdown below: IB/SEA

Majority Leader and Minister for Parliamentary Affairs, Osei Kyei-Mensah-Bonsu, has disclosed that the Minister of Finance, Ken Ofori-Atta, will not be able to present the 2023 budget before the November 15 deadline. According to him, the budget will belay because the ongoing International Monetary Fund (IMF) negotiation, which is likely not to be completed on time, will have to be factored into it (the budget). “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 while addressing the press at Parliament on Thursday, November 3, 2022. Osei Kyei-Mensah-Bonsu, who is also the Member of Parliament for Suame, further stated that presenting the budget to Parliament after the November 15 deadline will not be a breach of the 1992 Constitution. Even though he did not give a date for the presentation of the budget, he said that the government would need “some space to be able to do a tidy work”. Watch the majority leader’s remarks below: Watch the latest episode of The Lowdown below: IB/SEA