The Ghana Union of Traders Association (GUTA) announced that Finance Minister Dr. Mohammed Amin Adam has assured them that the 2024 mid-year budget will not introduce any new taxes.
GUTA President Dr. Joseph Obeng said this news is welcomed by the association.
“We have actually engaged with the Ministry and they have given the assurance that no new taxes are going to be imposed on us. It gives us to conform and assurance,” he told TV3 on Monday.
The Finance Minister, Dr. Mohammed Amin Adam, will present the Mid-Year Fiscal Policy Review of the Budget Statement and Economic Policy of the Government of Ghana for the 2024 financial year to Parliament today, Tuesday, July 23, in accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921).
A statement from the Finance Ministry indicates that the mid-year review will provide updates on the implementation of the 2024 budget, offering insights into the economic and fiscal performance for the first half of the year.
This includes updates on growth measures, revenue and expenditure performance, financing, debt sustainability, and the IMF-supported Post-COVID-19 Programme for Economic Growth (PC-PEG).
The document will also outline budget implementation for the remainder of the year, potentially reviewing proposed policies on growth, with a focus on SME development, the status of key government programs, revenue measures, expenditure controls, and financing adjustments based on mid-year performance.
“This is the first time Dr. Amin Adam will be making a statement in Parliament since assuming office as Finance Minister in February 2024,” the statement stressed.
