Budget Discipline Should Be Entrenched In Ghana As A Policy Priority

"Perennial fiscal deficit overruns in Ghana and their adverse effects on the economy have attracted widespread concern. Motivated by this concern, IEA carried out research to assess the processes, arrangements and the legal framework for budget preparation, implementation and oversight. The study included a survey of selected MDAs and relevant Parliamentary Committees. The study found that budget preparation is largely in conformity with international practice. However, there are severe implementation and monitoring deficiencies, including laxities in spending overruns with no sanctions. The paper makes wide-ranging recommendations for entrenching budget discipline in Ghana."