The Mid-Year Budget Review scheduled for Monday, July 21, will focus on restoring macroeconomic stability and driving economic transformation, according to Finance Ministry.
In a statement issued on Friday, July 28, the ministry outlined the key priorities to be addressed during the review.
The Review, the statement said, will highlight the importance of structural reforms in areas such as expenditure commitment control and arrears clearance, debt management, financial stability, and strategies to foster economic growth.
Initially scheduled to be presented to Parliament during the week, the Mid-Year Fiscal Policy Review of the Budget Statement and Economic Policy was later postponed. The review is in accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921).
The Finance Ministry further explained that the presentation will offer an update on the progress of implementing the 2023 Budget, providing insights into the economic and fiscal performance during the first half of the year.
It will also discuss the policies implemented to ensure macroeconomic stability, promote growth, and support vulnerable populations, as outlined in the IMF-supported Post-COVID-19 Programme for Economic Growth (PC-PEG).
The government plans to conduct Post-Budget Engagements to communicate and clarify various policy choices to the public following the Mid-Year Budget Review.