Amin Adam presents Mid-Year Budget Review today

The Minister for Finance, Mohammed Amin Adam is expected to present the 2024 Mid-Year Budget Review in Parliament today (23 July).

The budget review, which is in accordance with Article 179 of the 1992 Constitution and the Public Financial Management Act 921, presents the opportunity to revise macroeconomic targets and present a comprehensive economic outlook for the rest of the year.

This is normally based on inflows and outflows within the first six months of the year.

The Mid-year review offers an update on the implementation of the 2024 Budget, with insights into the economic and fiscal performance for the first half of the year, including updates on growth measures, revenue, and expenditure performance, financing, debt sustainability, and related matters as well as the IMF-supported Post Covid-19 Programme for Economic Growth (PC-PEG).

The document will also highlight budget implementation for the rest of the year and a possible review of proposed policies on growth with a focus on SME growth, status on implementation of key government programmes, revenue measures, and expenditure controls, and financing adjustments based on the half-year performance.

This is the first time Mohammed Amin Adam will be presenting the Mid-Year Budget Review in Parliament since assuming office as Finance Minister in February, 2024.

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