Latest News

EconomyTue, 28 Jun, 22

Ghana Trails South Africa in World Bank Open Budget Survey

Ghana Trails South Africa in World Bank Open Budget Survey

Ghana was placed second next to South Africa in an open budget survey for Sub-Saharan Africa, conducted by the World Bank group. 

Ghana Uganda, that are within close striking distance of 61 points with a score of 53 percent followed by South Africa which emerged first in the region with a score of 85 percent..

The Open Budget Survey is an assessment of fiscal transparency, public participation and formal oversight in the budget process across a range of countries, conducted every two years.

The World Bank made this known in its World Development Report and said Ghana was doing better in the Open Budget Survey than almost all the countries in the region.

According to the World Bank, the region has seen much performance in a number of countries in Sub-Saharan Africa. There were notable gains in budget transparency over the past decade despite a dip in scores in 2017.

It is reported that between 2008 and 2021, the regional average transparency score improved by 16 points among the countries with available data, from 23 to 39. This amounts to a nearly 70 percent increase, making it one of the better-performing regions in the Open Budget Survey.

The report revealed that most of the Sub-Saharan countries are characterized by a very low budget transparency base.

It indicated that two out of 38 countries assessed in the Open Budget Survey 2021 have sufficient levels of transparency, that's more than 60 points.

 Despite the challenges, the survey results also demonstrate the potential for improvement. For example, Nigeria and Zimbabwe made significant progress in this round of the survey, and there are several countries, such as Ghana and Uganda, that are within close striking distance of 61 points.

The Bank indicates that Comoros and Equatorial Guinea were both assessed as having the lowest score of zero on the survey’s measure of budget transparency in 2021, with Sudan not far behind at one point.

The region is however making significant strides and even outperforming other regions. However, it still does not produce or share nearly enough high-quality budget information.

 

 

Source:Abdul-Razak Mohammed (Real Estate Times Africa)

Welcome, Today is Sat, 13 Aug, 2022

Latest Publication

 The Market

  • Bank

  • Rate

  • Tenure

  • Ecobank

  • 23%

  • Fidelity Bank

  • 22%

  • First National Bank

  • 23%

  • Republic Bank

  • 22%

  • 10yrs

  • Stanbic Bank

  • 20.30%

  • Cement

  • Weight

  • Price

  • Cimaf

  • 50kg

  • GHS 47.00

  • Dangote

  • 50kg

  • GHS 50.00

  • Diamond

  • 50kg

  • GHS 48.00

  • Ghacem

  • 50kg

  • GHS 50.00

  • Pozzolana

  • 50kg

  • GHS 47.00

  • Safe

  • 50kg

  • GHS 47.00

  • Supacem

  • 50kg

  • GHS 47.00

  • Currency

  • Buying

  • Selling

  • GHS - EUR

  • 7.7430

  • 8.2360

  • GHS - GBP

  • 9.1678

  • 9.7446

  • GHS - NGN

  • 70.4182

  • 70.4370

  • GHS - USD

  • 7.0500

  • 7.4500

  • GHS - ZAR

  • 0.4608

  • 0.5068

  • Current

  • Year Ago

  • GDP Growth Rate

  • 4.64%

  • 0.88%

  • Ghana Reference Rate

  • 14.50%

  • 15.50%

  • Inflation

  • 8.97%

  • 9.87%

  • Policy Rate

  • 13.50%

  • 14.50%

  • T-Bill (182 days)

  • 12.4316%

  • 13.2555%

  • T-Bill (364 days)

  • 13.8773%

  • 16.1134%

  • T-Bill (91 days)

  • 12.6100%

  • 12.4701%

Videos

Opinion

Partners

Feedback Form

We would like to hear from you.
Top