Posted: Saturday 7th June 2014 at 13:06 pm

Finance Minister to present midyear review, supplementary budget in July

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The Finance Minister, Seth Terkper, is likely to present to Parliament a mid-year review and a supplementary budget by middle of next month.

The midyear review allows the Finance Ministry to tell Ghanaians whether the ministry is meeting its targets or not.

Also, new policies are proposed by the ministry on how the ministry it intends to meet those targets it fell short of.

One of the key recommendations of the Senchi Post-implementation Committee was for the  Finance Ministry to urgently review targets set out in the 2014 budget because of the current economic challenges.

But the review has become necessary because  the Finance Ministry needs approval of Parliament for the release of funds for development projects.

Parliament postponed the date for the resumption of the business of the House from Tuesday, June 3 to Tuesday, June 10.

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