Perennial budget overruns and their adverse effects on the economy have attracted widespread concerns.
Motivated by these concerns, this paper assesses institutional processes, arrangements and the legal framework for budget preparation, implementation and oversight in addition to carrying out a survey of relevant budget implementers and overseers.
The paper by Dr. J.K. Kwakye and Dr. Nkechi Owoo, finds that budget preparation is largely in conformity with international standards, with the exception of not being informed by any “fiscal rules.”
Also, ab initio, budget allocations often fall short of expenditure requests by line ministries, which is a recipe for spending overruns.
The big problem, however, lies at the implementation and monitoring stages where there are severe deficiencies, including laxities in managing control systems and weak parliamentary oversight.
The paper makes far-reaching recommendations for entrenching budget discipline in Ghana.
Click to read the entire research.
Latest Stories
-
Police officer among four dead in shooting at New York City office building
1 minute -
Russia strikes prison in Ukraine, killing 17 and wounding dozens
1 minute -
Beijing floods kill 30 as China sees summer of extreme weather
2 minutes -
Bawku Conflict: Affected final-year students to receive WASSCE support – GES
4 minutes -
Ghana saves $1.4bn since commercial export of crude oil
8 minutes -
Kintampo gridlock: 2-day highway shutdown leaves hundreds stranded
12 minutes -
UniBank case: I’ll be disappointed in Attorney General if… – Tuah Yeboah
26 minutes -
Nigeria: Tinubu gifts each Falcons player $100,000, national honours, house
28 minutes -
Ga East MCE engages Ghana Water Company on support plans
33 minutes -
Bibiani market women cry for stability after constant displacements
34 minutes -
MCE for Ga East Engages Circuit Court for development partnerships
36 minutes -
Banking that rewards you: Access Bank rolls out loyalty program
41 minutes -
SSNIT needs bold reforms to build a more inclusive, resilient social security system-VEEP
47 minutes -
Morocco donates 2,000 tons of fertilisers to Ghana
53 minutes -
Koforidua-based NDC lawyer Bernard Bediako Baidoo picks forms to contest Akwatia by-election primary
57 minutes