2025-02-23-世界银行-加纳公共财政评论_为弹性和公平的财政政策奠定基础第1卷-概述（英）_50页_2mb

ANAHG

Building the Foundations for a Resilient and Equitable Fiscal Policy

VOL. 1 / OVERVIEW · DECEMBER 2024

0.1 Ghana’s Economy and Fiscal Challenges

• Ghana’s economic growth, fueled by debt accumulation, has left it highly vulnerable to global shocks and recent crises.
• High public debt, fiscal deficits, and contingent liabilities strain fiscal space and hinder sustainable development.
• Tax revenue mobilization lags behind peers due to inefficiencies, exemptions, and weak enforcement.

0.2 Revenue Mobilization

• Domestic revenue mobilization (DRM) has declined, with tax collection less than 20% of GDP.
• Key challenges include weak tax compliance, exemptions in VAT, PIT, and corporate taxes; inadequate enforcement; and complex tax systems.
• Recommendations: Phasing out harmful exemptions, restructuring corporate taxes, enhancing PIT progressivity, and improving tax administration through IT.

0.3 Expenditure Efficiency and Public Sector Wage Bill

• Public spending has grown rapidly, dominated by wage bills, interest payments, and inefficiencies.
• Substantial investments are missing in infrastructure and social development, with limited fiscal space due to rigid allocations.
• Public sector wages are overstaffed, volatile, and in part driven by political considerations, with gender pay gaps.

0.4 Public Financial Management (PFM) Weaknesses

• Budget preparation and execution are plagued by delays, lack of transparency, and ineffective commitment controls.
• IT systems (GIFMIS, TSA) are fragmented, hindering integration, real-time data access, and fiscal discipline.
• Weak PFM contributes to high expenditure arrears and poor cash management, limiting fiscal sustainability.

0.5 Human Development Spending

• Education and health budgets have declined as a share of GDP, with inadequate allocations to primary and lower-level services.
• Social assistance programs (e.g., LEAP, GSFP) lack sufficient funding and coverage, impacting poverty reduction.
• Agriculture spending is low relative to GDP, marked by inefficiencies, high input subsidies, and limited modernization.

0.8 Policy Recommendations

1. Shift toward long-term structural reforms to reduce pro-cyclicality and improve fiscal discipline.
2. Strengthen fiscal rules, enhance PFM through IT integration, and improve revenue mobilization.
3. Protect equity and pro-poor spending during adjustments; increase strategic capital investments.
4. Promote human capital, agricultural transformation, climate resilience, and inclusive economic growth.

Key Priority Areas

• Fiscal Discipline: Implement expenditure and debt rules, reform the fiscal council, and ensure transparency.
• Revenue Enhancement: Rationalize tax exemptions, improve tax administration, and enforce CIT reforms.
• Expenditure Efficiency: Consolidate PFM, reduce rigid spending, and target investments in human development and climate adaptation.

[End of Summary]