Mid-Year Budget Review: Finance Ministry hints of possible review of revenue measures, financial adjustments

The Ministry of Finance has announced that sector Minister Dr. Mohammed Amin Adam will be in Parliament on Tuesday, July 23, to present the mid-year budget review statement.

In a press release issued on Monday, the Ministry said the document that will be presented by the Minister will focus on a possible review of key government programmes including revenue measures and financial adjustments.

The release said the financial adjustments will be based on the half-year performance.

“The Mid-year review to be presented on Tuesday, 23rd July 2024, 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,” the press release from the Ministry of Finance said.

Below is a copy of the release: