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September 25, 2019
Ghana’s Petroleum Revenue Management Act (PRMA) requires a portion of petroleum revenues to be set aside in the Ghana Petroleum Funds (GPFs) for saving and investment. This policy brief presents the findings of a study which assessed transparency and efficiency in the management of the GPFs. To read the full report, click here.
September 25, 2019
Since Ghana became a producer and exporter of oil in the late 2010, there has been strong public interest in the management of petroleum revenues accruing to the government, as it is believed that to make the revenues transformative demands their transparent and effective management. This report assess transparency and efficiency in the management of these revenues and offers recommendations to address observed shortcomings. Read the full report here.
May 24, 2019
[Occasional Paper No. 19] Ghana’s Attempts at Industrialization: How Can the Country Achieve the Success It Yearns For? Since independence, Ghana has sought to extensively develop the manufacturing sector of the economy with the goal of becoming an industrialized nation, enjoying rapid and sustained economic growth and development. Yet, data reveal that the manufacturing sector has performed very poorly, leading to the failure of the country’s industrialization attempts despite strong policy attention paid to the sector. Economic fundamentals such as high fiscal deficits, macroeconomic instability, shortage of foreign currency, inadequate raw materials to feed the manufacturing industries, etc. have commonly […]
January 9, 2019
Fiscal Alert 16: Enhancing Revenue Mobilization in Ghana through Tax Compliance. Ghana’s tax/GDP (rebased) ratio currently sits below 13%. Not only is the country’s tax revenue as a share of GDP low in absolute terms, but it is also very low as a share of GDP relative to those of its African peers, pointing to the need to significantly increase tax revenue. Developing mechanisms to improve tax revenue has, however, become challenging on at least two fronts: (i) lack of good data on tax compliance; and (ii) difficulty in finding effective instruments for improving compliance, given the institutional constraints. One […]
November 19, 2018
Fiscal Alert 15: The 2018 Fiscal Policy Objectives and Targets: What has changed? Ghana has been facing fiscal difficulties since 2012 and the effects were at the forefront of the fiscal challenges that confronted the NPP government that came into office in 2017. For most of the past six years, large persistent fiscal deficits and a rising debt burden have posed an increasingly serious policy challenge for the country. The implementation of the single spine salary structure for the public sector in 2010, coupled with a sharp rise in energy-subsidy costs and fiscal transfers, rapidly increased public spending. Consequently, the […]
November 15, 2018
[Occasional Paper 18] Ensuring Strong Broad-Based Economic Growth and Significant Reduction in Unemployment in Ghana Having witnessed a decline in economic growth in the 1990s on average, Ghana recorded increased rates of economic growth in the 2000s. In 2011 and 2012, the economy of Ghana registered exceptionally high growth rates. Even though this was partly due to the production of oil in commercial quantities, which began in December 2012, the traditional non-oil sector also saw very high growth rates in these years. However, starting from 2013, the growth of both the total and non-oil economies began to decline, reaching incredibly […]