ARTICLE
29 August 2024

Mid-Year Budget 2024

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Firmus Advisory

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Firmus Advisory Limited is a business consulting firm operating in three areas in Ghana, Regulatory Compliance,Market Research and Trade Development. We offer the following under services under these three areas. Regulatory Compliance- Company Formation,Tax Advisory,Immigration Support Services,Regulatory licensing and permits,Product certification.Market Research-Customer Experience,Market Insights,Industry Research,Employee Engagement,Business Plan.Trade Development- Business to Business match-making,Market Development, Market Entry Services,In-market seminars for visiting business delegations.
The Mid-Year budget of Ghana, as presented by the Minister of Finance on July 23, 2024 to parliament, is in fulfilment of Section 28 of the Public Financial Management Act, 2016 (Act 921).
Ghana Government, Public Sector

The Mid-Year budget of Ghana, as presented by the Minister of Finance on July 23, 2024 to parliament, is in fulfilment of Section 28 of the Public Financial Management Act, 2016 (Act 921).

The mid-year review seeks to offer an in-depth take at the fiscal policies, economic achievements, and future initiatives of the Ghanaian government.

Below, are the highlights of the key achievements and planned initiatives;

  1. cabinet has given its approval for the reintroduction of road and bridge tolls in 2025 to help generate additional revenue to support the maintenance and development of the country's road network
  2. economy grew by 4.7% in the first quarter of this year, surpassing our expectations
  3. the third payment of the coupon under the Domestic Debt Exchange Program (DDEP) in 2023 will be done in August and that the move is a reflection of the commitment by the government to honor its financial obligations
  4. The country's public debt has jumped from GH¢658.6bn to GH¢742bn as of June 2024. This indicates an increase of 22.0 percent due to the effect of the cedi depreciation and continuous disbursements from creditors

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