Finance Minister to present mid-year budget statement today

The Finance Minister, Dr. Mohammed Amin Adam (MP), will today, July 23, 2024, present the mid-year budget statement and economic policy of the government per Section 28 of the Public Financial Management Act, 2016 (Act 921).

This will be the first time the Finance Minister will be making a statement in Parliament since he assumed the position.

He is expected to provide an update on the implementation of the 2024 budget with insights into the economic and fiscal performance for the first half of the year.

His update will also include 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.

The Finance Minister will also present a document which will highlight the implementation for the rest of the year and 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.

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