MID-YEAR BUDGET REVIEW: NO NEW TAXES, GOVERNMENT PLEDGES

The government has announced that it will not introduce new taxes or a supplementary expenditure in today's mid-year budget review, presented to Parliament. Instead, it will implement measures to enhance tax compliance and increase domestic revenue.

Deputy Finance Minister Dr. Alex Ampaabeng made this announcement at the launch of the World Bank's eighth Ghana Economic Update, indicating a likely downward revision of expenditure.

Experts have urged the government to streamline tax and revenue handles, ensure full implementation of policies under the IMF loan-supported program, and improve efficiency in revenue collection.

The World Bank report highlights the need to strengthen domestic revenue systems for fiscal sustainability, focusing on the medium-term economic outlook and potential risks.

The government has committed to protecting the economy by charting a sustainable fiscal path, making Ghana a gateway and preferred trade and investment destination in Africa.