Ghana's Economy Terkper to present Q1 budget on Thursday

The move to present the budget for the first quarter of 2017 is in line with conventions established during election years due to the likelihood of a change of government.

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The Minister of Finance Seth Terkper will on Thursday, October 20 present the first quarter budget of 2017 to parliament, Deputy Majority Leader Alfred Agbesi has announced.

He made the announcement on the floor of parliament on Friday, adding that Terkper is also expected to present the revenue and expenditure of the government for the entire 2017 financial year.

READ MORE: Budget review tells economy is ‘highly challenged’- economist

Mr Agbesi said: “Honourable Speaker, bills will be presented for the first reading and those of an urgent nature will be taken through the various stages in one day in accordance with Standing Order 119.

“The Minister for Finance is expected to present to the house on Thursday 20th October 2016, the expenditure in advance of appropriation in January to March 2017 as well as the revenue and expenditure of the government of Ghana for the 2017 financial year.”

READ MORE:Terkper’s GHC1.8 billion request must be denied-Kwaku Kwarteng

The move to present the budget for the first quarter of 2017 is in line with conventions established during election years due to the likelihood of a change of government.

In July, Terkper has asked for an additional budget of GHC1.8 billion for various intervention programme for the rest of 2016.

He said the demand was due to plunge in commodities prices, shut down of the FPSO Kwame Nkrumah and drop in crude oil prices on the international market.

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