Investor Presentaiton
Impressive 2015 Fiscal Operations Outturns Hard Won
Source: Ministry of Finance, Government of Ghana, Ghana
Statistical Services
2012 Deviations
GHS mn % of GDP1 GHS mn
Programme based budgeting and monthly budget performance monitoring reforms leads to lower deviations
2015 Deviations
% of GDP1
2013 Deviations
2014 Deviations
% of GDP1 GHS mn
% of GDP1
GHS mn
Revenues
Tax Revenues
78.9
0.10
(2,783.1)
(2.98)
(558.8)
(0.49)
971
0.69
Taxes on Income and Property
(338.2)
(0.45)
(1,523.3)
(1.63)
(673.1)
(0.59)
(704)
(0.50)
Taxes on Domestic Goods & Services
8.9
0.01
(743.2)
(0.80)
(44.0)
(0.04)
536
0.38
International Trade Taxes
645.1
0.86
(516.7)
(0.55)
158.4
0.14
1,139
0.81
Non Tax revenue
180.4
0.24
245.5
(0.26)
(401.5)
(0.35)
(293)
(0.21)
(389.4)
(0.52)
(519.1)
(0.56)
(576.7)
(0.51)
687
0.49
Grants
Expenditures
Wages and Salaries
Wage Arrears
Interest Payments
Utility and Fuel Subsidies
Goods & Services
Capital Expenditures
1,028.0
1.36
777.6
0.83
229.7
0.20
269
0.19
881.0
1.2
922.6
1.0
5.5
0.0
435
0.31
245.0
0.33
1,202.6
1.29
(803.8)
(0.71)
(274)
(0.20)
339.0
0.45
135.9
0.15
(145.1)
(0.13)
(25)
(0.02)
354.6
0.47
(293.3)
(0.31)
691.6
0.61
(468)
0.33
(1,001.0)
(1.33)
914.9
0.98
1,511.8
1.33
732
0.52
For the first time since 2006, Ghana
will achieve a primary fiscal balance
surplus in FY2016
Overall Fiscal Balance (% of GDP)
Strong political will backs fiscal consolidation with wage bill control institutionalized and arrears
being aggressively cleared
SSSS Arrears deferred
■Wage Bill (% of GDP) (GHS billions)
■Road Arrears Non Road Arrears
9.1
1.3
-0.2
-1.3
-3.4
8.9%
8.8%
8.3%
-3.9
7.5%
7.4%
-5.4
-8.2
2.1
-4.0
1.5
-5.3
-6.5
-6.7
0.4
0.3
0.0
-11.5
-10.1 -10.2
2010
2011 2012
2013
2014
2015
2016
budget
2012
2013
2014
2015
2016
budget
2012-2014
2015
2016 budget
7View entire presentation