Amend the Public Financial Management Act, 2016 (Act 921) to:
1

Establish a Fiscal Council

Feasible
No Bill has been brought before Parliament for consideration
2

Establishment of a Financial Stability Council.

Feasible
No Bill has been brought before Parliament for consideration
3

Enhance revenue management

Feasible

Ongoing

In 2017, the GRA collected GH¢32.4bn as against a target of about GH¢ 34bn, representing 97%. Yet, the Authority (GRA) has been tasked to collect about GH¢39bn as taxes for the 2018 fiscal year.

4

Ensure effective debt management

Feasible

Ongoing

The debt to GDP ratio reduced from 73.1% in 2016 to 69.2% in 2017 & to a provisional figure of 64.4% of GDP at end June 2018.

5

Strengthen expenditure management

Feasible

Ongoing.

At the Mid-year review of the 2018 Annual Budget, the Minister of Finance stated that fiscal performance for Jan-May 2018 showed that both revenue and expenditure were below their respective targets but the shortfall in revenues (GH¢1.43 billion) was much greater than the shortfall in expenditure (GH¢797 million), leading to a fiscal deficit of 2.6 percent of GDP compared to a target of 2.4 percent.

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