Business News of Wednesday, 18 August 2021Source: www.ghanaweb.com• Government has commenced preparation of its 2022 budget•The policy document will provide the direction, budget expenditure and processes of government•The 2022 budget will focus on revitalization efforts of government from the impacts of COVID-19Government through the Ministry of Finance and Economic Planning has commenced the process of preparing the 2022 budget and fiscal policy which is likely to be presented in November 2021. The guidelines of the policy document will provide the needed policy direction of government, instructions, budget expenditure, processes, and procedures. According to details of the yet-to-be-prepared and presented budget, government will set its focus on revitalizing the economy from the impact of the COVID-19 through inclusive and sustainable policies. “This strategy will progressively reduce the overall fiscal balance back to the Fiscal Responsibility Act (FRA) deficit threshold of 5 percent of GDP and a primary surplus by 2024,” the guideline highlighted. For the 2022 financial year, government is projecting an overall budget of GH¢39.2billion which includes the financial sector clean and energy sector cost which is equivalent to 7.9% of Gross Domestic Product.

Source: GhanaWeb August 18, 2021 09:03 UTC