Spending Wisely: A Budget Reform Action Plan for Ghana
Jul 19, 2011
This paper discusses the risks and potential impact of the flow of revenues from oil extraction expected in Ghana by the end of 2010. The increased revenues can consolidate Ghana’s middle-income status provided steps are taken to reform the financial management systems and increase the level of transparency and effectiveness of public spending. The paper also discusses the weaknesses in Ghana’s budget process and offers recommendations on specific areas for financial reform and on how the oil revenues can bolster Ghana’s social sector.