[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109083-en":3,"doc-seo-109083-105":30,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":13,"seo_description":14,"update_tm":28,"read_time":29},109083,1099513958607,"Jiven","https://ap-avatar.wpscdn.com/avatar/100002390cf8733938c?x-image-process=image/resize,m_fixed,w_180,h_180&k=1778829742770036399",8,"Research & Report","Ghana Public Finance Review - Building the Foundations for a Resilient and Equitable Fiscal Policy - Volume 1 - Overview","Ghana Public Finance Review provides an in-depth analysis of public revenue and expenditure, focusing on efficiency, equity, and the resulting impact on fiscal consolidation. The review explains how fast GDP growth combined with debt accumulation increased vulnerability to global shocks, and why domestic revenue mobilization is critical to create fiscal space. It assesses spending shortcomings driven by interest burdens and weak public financial management, including the unpredictability of the wage bill and gaps in pro-poor human development allocations.","Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized  \nGHANA  \nPUBLIC FINANCE REVIEW  \nBuilding the Foundations fora Resilient and Equitable Fiscal Policy  \nVOL. 1 / OVERVIEW  \nDECEMBER 2024  \nGHANA  \nPUBLIC FINANCE REVIEW  \nBuilding the Foundations fora Resilient and Equitable Fiscal Policy  \nVOL. 1 / OVERVIEW  \nDECEMBER 2024  \nii  \n© 2024 The World Bank  \n1818 H Street NW, Washington DC 20433  \nTelephone: 202-473-1000; [Internet: ](Internet: www.worldbank.org)[www.worldbank.org](Internet: www.worldbank.org)  \n[Some rights reserved.](Some rights reserved.)  \nThis work is a product of the staff of The World Bank. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of the Executive Directors ofThe World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries.  \nRights and Permissions  \nThe material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge, this work may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this work is given.  \nAttribution—Please cite the work as follows: “World Bank. 2024. Ghana Public Finance  \nReview: Building the Foundations for a Resilient and Equitable Fiscal Policy Volume 1 – Overview.  \nWorld Bank, Washington, DC.”  \nAll queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; e-mail: [pubrights@worldbank.org](pubrights@worldbank.org).  \niii  \nContents  \n\n| Acknowledgment | v |\n| --- | --- |\n| Abbreviations and Acronyms | vii |\n| 0 Overview | 1 |\n| 0.1 Ghana’s fast GDP growth, fueled by debt accumulation, left it highly vulnerable to global shocks | 2 |\n| 0.2 Stronger domestic revenue mobilization can create fiscal space | 6 |\n| 0.3 Public expenditure, fast-growing and burdened by interest payments on debt, falls short on spending efficiency | 10 |\n| 0.4 Lackluster public financial management has undermined fiscal policy effectiveness | 14 |\n| 0.5 The public sector wage bill, large and unpredictable, fails to provide the civil service Ghana needs | 19 |\n| 0.6 Human development spending must rise but with stronger pro-poor allocation across subsectors and programs | 22 |\n| 0.7 Agriculture, critical for rural Ghanaian livelihoods and for export earnings, could greatly benefit from more efficient and better targeted government support | 26 |\n| 0.8 Policy recommendations: To implement a fair and sustainable adjustment, Ghana needs to shift from short-term crisis response to long-term structural reforms | 30 |\n| References | 40 |\n\niv  \n List of Boxes  \n\n| Box 0.1. Building institutions for fiscal discipline: The case of Jamaica | 5 |\n| --- | --- |\n| Box 0.2. Sustainably improving revenue mobilization: lessons from country experience | 9 |\n| Box 0.3. Improving cash management and commitment controls: The case of Kenya | 17 |\n| Box 0.4. Strengthening PFM and accountability through technology: The case of Estonia | 18 |\n\n List of Figures  \n\n| Figure 0.1. GDP per capita (PPP 2017, international dollar), Ghana and SSA | 3 |\n| --- | --- |\n| Figure 0.2. Central Government-Gross debt (% GDP) | 3 |\n| Figure 0.3. Benchmarking Ghana’s tax revenue performance against countries with similar levels of GDP per capita and trade, by total and individual tax | 7 |\n| Figure 0.4. Government spending by economic category, 2010–2023, ₵ billions (constant, 2010) | 11 |\n| Figure 0.5. Level of education gains from partial improvements in spending efficiency, Ghana and comparato","cbCaisOI8DDOGjHu","https://ap.wps.com/l/cbCaisOI8DDOGjHu","pdf",2795429,5,1,50,"English","en",105,"# Overview\n## Ghana’s fast GDP growth, fueled by debt accumulation, left it highly vulnerable to global shocks\n## Stronger domestic revenue mobilization can create fiscal space\n## Public expenditure, fast-growing and burdened by interest payments on debt, falls short on spending efficiency\n## Lackluster public financial management has undermined fiscal policy effectiveness\n## The public sector wage bill, large and unpredictable, fails to provide the civil service Ghana needs\n## Human development spending must rise but with stronger pro-poor allocation across subsectors and programs\n## Agriculture, critical for rural Ghanaian livelihoods and for export earnings, could greatly benefit from more efficient and better targeted government support\n## Policy recommendations: To implement a fair and sustainable adjustment, Ghana needs to shift from short-term crisis response to long-term structural reforms","[{\"question\":\"What key vulnerability is highlighted in Ghana’s recent economic performance?\",\"answer\":\"Fast GDP growth accompanied by debt accumulation left Ghana highly vulnerable to global shocks.\"},{\"question\":\"How does the review link stronger revenue mobilization to fiscal outcomes?\",\"answer\":\"It argues that stronger domestic revenue mobilization can create fiscal space for improved policy choices.\"},{\"question\":\"What factors reduce the effectiveness and efficiency of public spending?\",\"answer\":\"Public expenditure is described as fast-growing and burdened by interest payments on debt, while weak public financial management undermines spending efficiency and fiscal policy 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