INTRODUCTION

1. The 2021 Mid-Term Budget and Economic Review provides performance of the economy and the 2021 Budget during the first half of the year, together with macro and fiscal outlook to year end. This is in compliance with Section 7 (2) (a) of the Public Finance Management Act and Section 9 of the Public Finance Management (General) Regulations of 2019.

2. Guided by first half developments, the Review also gives Government an opportunity to make necessary policy re-alignments to ensure that set economic and fiscal objectives and targets for the year are met.

3. In formulating the Review, Treasury is grateful to invaluable contributions from the Presidium, Cabinet ministers, line Ministries, Government Agencies, Honourable Members of Parliament and their respective Portfolio Committees, as well as all stakeholders, inclusive of private sector players, labour, civic organisations and the public at large.

4. For that purpose, a revisit to the original macro-fiscal parameters aligned to key policy measures under the 2021 National Budget allows identification of any deviations for necessary adjustments.