{"id":340728,"date":"2017-07-31T05:50:50","date_gmt":"2017-07-31T05:50:50","guid":{"rendered":"http:\/\/citifmonline.com\/?p=340728"},"modified":"2017-07-31T05:50:50","modified_gmt":"2017-07-31T05:50:50","slug":"no-supplementary-budget-risky-for-2017-budget-economist","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/07\/no-supplementary-budget-risky-for-2017-budget-economist\/","title":{"rendered":"No supplementary budget risky for 2017 budget \u2013 Economist"},"content":{"rendered":"
Some Economists want the Finance Minister, Ken Ofori Atta, to give detailed plans of increasing revenue even as he presents a midyear budget review to Parliament today.<\/p>\n
It comes on the back of a decision by the Ministry not to seek a supplementary budget.<\/p>\n
For Economist, Dr. Said Boakye, the government\u2019s inability to meet the revenue targets for the first half of the year will require revenue support to fund some critical expenditure.<\/p>\n
He explains to\u00a0Citi Business News<\/strong>\u00a0the decision to severely cut spending on critical sectors makes a supplementary revenue inevitable.<\/p>\n \u201cI think that they have to consider a supplementary budget except that the review can be detailed enough because they have not been able to meet their revenue targets and so they\u2019re plan is off budget as at now in the sense that they have to cut spending to meet it,\u201d Dr. Boakye asserted.<\/p>\n Unlike instances where Finance Ministers seek additional budgetary support in their midyear budget reviews, Mr. Ken Ofori Atta has ruled out any request for additional funding support.<\/p>\n Already some targets from revenue have been missed in the first half of the year.<\/p>\n This is also against the backdrop of declining commodity prices on the global market.<\/p>\n