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. |
