[Occasional Paper 13] Does the 2018 Budget and Economic Policy Address the Critical Challenges Facing Ghana?

Ghana is currently facing three critical economic challenges, namely a slowdown of economic growth, rising unemployment, and surging public debt. The broad agenda of the government in 2018 is to guide the economy to grow and create more job opportunities to deal with the surging unemployment by reversing the abysmal performance of the agriculture sector and reviving the ailing manufacturing sub-sector. This is to be achieved by a number of flagship programs and projects.

The government also plans to reduce the country’s fiscal deficit in 2018 and over the medium term to bring the public debt on a declining path to eliminate the risk of debt distress and strengthen the country’s debt sustainability.

The budget appears well conceptualized, seeking to achieve a prudent compromise between fiscal consolidation and the acceleration of the country’s economic growth, rising unemployment, and unsustainable public debt. Details of some of the policies and programs, however, are yet to be revealed, making their ability to fully address the challenges difficult to establish.

 

Read full paper here: Occasional No 13new

January 20, 2018

Does the 2018 Budget and Economic Policy Address the Critical Challenges Facing Ghana? [Occasional Paper 13]

[Occasional Paper 13] Does the 2018 Budget and Economic Policy Address the Critical Challenges Facing Ghana?

Ghana is currently facing three critical economic challenges, namely a slowdown of economic growth, rising unemployment, and surging public debt. The broad agenda of the government in 2018 is to guide the economy to grow and create more job opportunities to deal with the surging unemployment by reversing the abysmal performance of the agriculture sector and reviving the ailing manufacturing sub-sector. This is to be achieved by a number of flagship programs and projects. The government also plans to reduce the country’s fiscal deficit in 2018 and over the medium term to bring the public debt on a declining path to eliminate the risk of debt distress and strengthen the country’s debt sustainability. The budget appears well conceptualized, seeking to achieve a prudent compromise between fiscal consolidation and the acceleration of the country’s economic growth, rising unemployment, and unsustainable public debt. Details of some of the policies and programs, however, are yet to be revealed, making their ability to fully address the challenges difficult to establish.  
Read full paper here: Occasional No 13new
December 30, 2014

Ghana: A Review of the 2015 Budget [Occasional Paper 01]

Occassional Paper 1. Ghana: A Review of the 2015 Budget

Ghana is currently facing serious economic crisis. The country is experiencing a rapidly declining economic growth, double-digit deficits for two years running, current account deficits also in double digits, and a public debt stock which is almost above the sustainable threshold. The domestic currency witnessed a rapid depreciation in the first three-quarters of 2014 amid dwindling foreign reserves and inflation which has crawled back to double digits since January 2013.
Click here to read full report