The Parliamentary Affairs Minister, Osei Kyei-Mensah-Bonsu is expected to present the 2021 budget statement today, March, 12, 2021.
The Suame MP will be holding the fort as Finance Minister-designate Ken Ofori-Atta still undergoes treatment in the USA after contracting COVID-19.
“I write respectfully to inform you that, pursuant to Order 140 Rules 2 and 3, of the Standing Orders of Parliament, I have assigned temporarily responsibility for the Ministry of Finance to the Minister for Parliamentary Affairs, Osei Kyei-Mensah-Bonsu, Member of Parliament for Suame,” a letter announcing the appointment to Parliament through the Speaker read.
The presentation of the budget is in accordance with Article 179 of the 1992 Constitution and section 21 of the Public Financial Management Act, 2016 (Act 921).
As required by the Public Financial Management Regulation, 2019, the Minister for Finance, Ken Ofori Atta in October last year presented a three (3) month estimate of expenditure and revenue in advance of appropriation as the country’s leadership transitioned after the 2020 elections.
The highlights captured the key expenditure and revenue items as envisaged for the first quarter of 2021.
Total projected expenditure was estimated at GH¢ 23.7 billion for the first quarter representing 5.3%, with total government revenue and grants of GH¢13.3 billion for Q1 constituting 20% of 2021 annual projected revenue and representing 3% of GDP.