Accra, Ghana – Associate Professor of Accounting and Finance at Accra Technical University, Prof. Ibrahim Zubairu, has described Ghana’s Mid-Year Budget Review as a critical instrument for assessing government performance, reviewing fiscal targets, and seeking parliamentary approval for additional expenditure to address emerging national priorities.
Speaking on Ahotor FM’s Adekyee Mu Nsem programme with Citizen Kofi Owusu in Accra, Prof. Zubairu explained that the Mid-Year Budget Review is a constitutional requirement under the 1992 Constitution and the Public Financial Management Act.
According to him, the Finance Minister is required to present the review to Parliament in July each year to provide an update on the country’s economic performance, revenue mobilisation, expenditure trends, and progress toward key macroeconomic targets.
“The Mid-Year Budget Review allows government and Parliament to determine whether inflation targets, GDP growth projections, fiscal deficit levels, and revenue collection targets are on course,” he said.
Prof. Zubairu noted that the review is more than a presentation of financial figures; it is an important mechanism for evaluating government performance and making necessary policy adjustments.
He explained that unforeseen circumstances often arise during the implementation of the national budget, requiring government to seek parliamentary approval through supplementary estimates and appropriations to finance projects and interventions that were not included in the original budget.
“Sometimes new developments arise after the original budget has been approved. Government must therefore return to Parliament to seek additional spending authority for projects and programmes that have become necessary during the course of the year,” he explained.
The accounting expert added that the Mid-Year Budget Review helps identify revenue and expenditure variances, funding gaps, and fiscal pressures that emerge during budget implementation. It also provides an opportunity to revise tax exemptions, adjust expenditure allocations, and introduce revenue-enhancing measures where necessary.
Touching on public financial management, Prof. Zubairu stressed that government cannot spend money from the Consolidated Fund without parliamentary approval. He explained that Article 174 of the Constitution grants Parliament authority over taxation, while Article 179 requires government to submit budget estimates for legislative approval before public funds can be spent.
Looking ahead to the 2026 Mid-Year Budget Review, Prof. Zubairu said available indications suggest government may not introduce new taxes, a move he believes would provide relief for businesses and households.
“If revenue targets are on course and government is not introducing new taxes, that will certainly be positive news for citizens and businesses,” he observed.
However, he noted that government may still seek supplementary appropriations to finance urgent projects and address unforeseen expenditure needs that have emerged since the approval of the 2026 Budget.
He cited ongoing infrastructure projects, healthcare demands, and commitments to organised labour as areas that may require additional funding. According to him, government may need extra resources to support critical healthcare interventions, complete ongoing development projects, and honour agreements reached with labour unions, including university workers and other public sector employees.
Prof. Zubairu also highlighted the importance of the Contingency Fund established under Article 177 of the Constitution, noting that it enables government to respond to emergencies and unexpected events. Nevertheless, he emphasised that parliamentary approval remains necessary whenever expenditure exceeds approved budgetary allocations.
Beyond budgetary allocations, the Associate Professor advocated the adoption of a comprehensive Public Expenditure Survey system to enhance transparency, accountability, and project monitoring nationwide.
He proposed deploying university students, researchers, and young professionals to regions, districts, and communities to assess the status of government projects and verify whether public funds are being utilised effectively.
“There is a concept known as Public Expenditure Survey. Through this system, intellectuals and students can be assigned to monitor projects, determine how much has been spent, assess the level of completion, and provide independent reports on project implementation,” he said.
He argued that such an approach would strengthen accountability, improve value for money, and enable government to monitor development outcomes more effectively.
Prof. Zubairu also expressed concern about the condition of roads in parts of the Greater Accra Region. While acknowledging the efforts of agencies under the Ministry of Roads and Highways—including the Ghana Highway Authority, the Department of Urban Roads, and the Department of Feeder Roads—he said potholes and deteriorating road surfaces continue to hamper transportation and economic activity.
He noted that several major roads in Accra remain in poor condition, contributing to traffic congestion, travel delays, and increased vehicle maintenance costs.
“Greater Accra is the national capital and some of the roads still have significant potholes. These conditions slow transportation, worsen traffic congestion, and create challenges for commuters and businesses,” he stated.
Prof. Zubairu therefore urged government to prioritise road maintenance and infrastructure development while ensuring prudent management of public resources.
He concluded that the Mid-Year Budget Review remains one of Ghana’s most important instruments for promoting fiscal accountability, transparency, and effective development planning, providing government with an opportunity to assess progress, respond to emerging challenges, and keep the economy on track.
Story by Stephen Kwaku Owusu Mintah | AhotorOnline | Accra
