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Mid-Year Budget review to be presented on Thursday 23rd July 2020

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Ghana’s Minister of Finance is expected to deliver the Mid-Year budget review for the 2020 fiscal year on Thursday 23rd July 2020.

The budget review is expected to capture the expenses the country has made so far from its annual projected budget for the year 2020.

Ken Ofori Attah, is expected to talk about the loses and profits the country has made in just six months into the fiscal year amidst COVID-19 pandemic.

However, some Ghanaians are already anticipating what the Minister will be saying by stating that, the year hasn’t been smooth and trading has been halted due to the COVID-19.

Ghana’s Consumer Price Index (CPI) for June this year has slightly dropped to 11. 2 per cent from 11.3 per cent recorded last month, this is according to the Ghana Statistical Service (GSS).

According to the Ghana Statistical Service, the drop was 0.1 percentage points lower than that of the previous month(May) while the monthly inflation rate between May and June is one per cent.

The Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care. It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them.

Changes in the CPI are used to assess price changes associated with the cost of living. The CPI is one of the most frequently used statistics for identifying periods of inflation or deflation.

By Amos Ekow Coffie | talksafrica.com

 

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