2022 Mid-Year Budget Review

the revision of the end-period inflation for 2022, as part of the re-jigging of the entire macroeconomic framework, has been necessitated by a significantly-changed macroeconomic environment.

Notwithstanding the significant improvement in the trade surplus, the current account deficit widened to US$1.1 billion, compared with US$762.0 million recorded in the same period of 2021.

The proposal is coming at time when there is a debate whether the policy should be reviewed or abolished since it’s consuming chunk of government revenue.

According to the 2022 Mid-Year Budget Review, interest payments, which dominated government expenditure for the first half of 2022, stood at GH¢20.4 billion, representing 4.5% of Gross Domestic Product (GDP). …