Finance Minister likely to present 2017 budget on March 3

Europa

February 7, 2017 3:18 PM

The Finance Minister Ken Ofori-Atta said the ministry is working with the Economic Management Team to complete ongoing budget hearings to enable them meet the proposed date for the budget presentation.

Government has begun preparations towards the presentation of its 2017 Budget and Economic Policy to parliament on March 3 barring any changes.

The Finance Minister Ken Ofori-Atta who revealed this to Accra-based Joy FM said the ministry is liaising with the Economic Management Team to complete ongoing budget hearings to enable them meet the proposed date for the budget presentation.

He was optimistic that the team will finalise a forensic audit of the fiscal accounts to ensure that the budget provides the true state of the economy and the country’s finances.

The Finance Minister further indicated that the 2017 Budget will introduce policies that will help rationalize public expenditure, strengthen contract management and realign statutory funds for a priority project.

The Finance Ministry had earlier indicated that the sector Minister, Ken Ofori-Atta has already held bilateral meetings with various ministries, departments and agencies to review their policies and ensure consistency with government medium-term policy strategy.

“During the review and audit process, MDAs submitted unbudgeted projects and commitment of about 7 billion Ghana cedis, which will have to be validated as the budget process continues. We will have a better sense of the numbers before the budget, and have a team assembled to complete our forensic audit to confirm the validity of these expenses and that value for money was obtained at all times,” a statement from the Ministry said.

“We are committed to ensuring fiscal discipline and good economic governance, focusing on the transparent and accountable use of public resources in accordance with the new public Financial Management Law,” the statement added.

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