Technical Advisor at the Ministry of Finance, Dr Theophilius Acheampong, says the\u00a02026 Mid-Year Budget Review will focus on the government’s fiscal performance, expenditure, borrowing and key policy initiatives, with no plans to introduce new taxes.<\/p>\n
Speaking on the Super Morning Show on Thursday, July 23, ahead of the minister’s presentation to Parliament, Dr Acheampong said the review would provide a comprehensive assessment of the economy nearly eight months after the 2026 budget was presented.<\/p>\n
“The minister is going to Parliament this afternoon to give an update on where we are\u2014what we’re doing on revenue, what we’re doing on expenditure, what we’re doing on borrowing, what we’re doing on the special initiatives, and whether there is any need for supplementary estimates,” he said.<\/p>\n
According to him, the review is expected to focus on the government’s fiscal performance and any adjustments needed to keep public finances on course, rather than announcing major policy shifts.<\/p>\n
Dr Acheampong stressed that the government is not considering new tax measures, arguing that Ghana’s fiscal challenge lies more in expenditure management than revenue mobilisation.<\/p>\n
“I have argued, even before going into government, that we have a major expenditure problem, less so a revenue problem,” he stated.<\/p>\n
“You can raise more revenue, but if it keeps going into a leaking basket, you’ve got a problem. The issue is tightening expenditure, ensuring that you’re spending well and spending in the right places.”<\/p>\n
Instead of introducing fresh taxes, he said the government intends to improve tax administration by strengthening compliance among existing taxpayers.<\/p>\n
“It is not a question of more taxes,” he emphasised. “Rather, it is about enforcing compliance and ensuring that those who are supposed to pay taxes actually do so.”<\/p>\n
Dr Acheampong further disclosed that the government is undertaking a comprehensive review of key tax legislation, including the Income Tax Act, customs laws and excise duties, to make the country’s tax system more responsive.<\/p>\n
“We’ve taken a fundamental review of the core tax laws. Some measures may be announced in the Mid-Year Budget Review, while others will take more time to implement,” he said.<\/p>\n
Beyond fiscal policy, he indicated that the finance minister will also provide updates on major infrastructure and agricultural projects, including road construction, agro-commerce initiatives and other interventions aimed at improving food transportation and boosting economic activity.<\/p>\n
“You will get an update on some of the key projects and interventions. The minister will outline where government is and what progress has been made,” he added.<\/p>\n
Finance Minister Dr Cassiel Ato Forson is expected to present the 2026 Mid-Year Budget Review to Parliament, providing an update on the economy’s performance in the first half of the fiscal year, the implementation of the 2026 Budget and the government’s revised fiscal and economic outlook for the rest of the year.<\/p>\n","protected":false},"excerpt":{"rendered":"
Technical Advisor at the Ministry of Finance, Dr Theophilius Acheampong, says the\u00a02026 Mid-Year Budget Review will focus on the government’s fiscal performance, expenditure, borrowing and key policy initiatives, with no plans to introduce new taxes. Speaking on the Super Morning Show on Thursday, July 23, ahead of the minister’s presentation to Parliament, Dr Acheampong said […]<\/p>\n","protected":false},"author":123457,"featured_media":17204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[41],"tags":[5405],"class_list":["post-17203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-news","tag-mid-year-budget"],"_links":{"self":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/17203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/users\/123457"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17203"}],"version-history":[{"count":1,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/17203\/revisions"}],"predecessor-version":[{"id":17205,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/17203\/revisions\/17205"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/media\/17204"}],"wp:attachment":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}