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Business & Analysis

World Bank Open Budget Survey: Ghana ranked 2nd in Sub-Saharan Africa

By : cd on 29 Jun 2022, 10:10     |     Source: myjoyonline

World Bank

Ghana has been ranked 2nd in Sub-Saharan Africa by the World Bank in an Open Budget Survey.

The country’s score of 53% follows South Africa which is ranked first in the region with a score of 85%.

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

However, there is more room for improvement to bridge the gap with South Africa.

Therefore the Bretton Wood institution says the government must improve its pre-budget statements, macroeconomic forecasts underpinning budget projections as well as government policies guiding estimates of expenditure and revenue. Others include estimates on government borrowing and debt, as well as estimates of government expenditure for a multi-year period of two years after the implementation of the budget.

The World Bank further urged Sub-Saharan African countries to present further information on new borrowing, total debt outstanding at the end of the year and projected interest spending in the enacted budget document.

Moreover, the executive could strengthen its engagement with the public during the budget process, particularly regarding the dissemination of the citizens’ budget.

Botswana and Rwanda performed somewhat less well overall on the Open Budget Survey (OBS) (International Budget Partnership 2020) than several other sub-Saharan African countries. Based on these countries’ comparative scores on the OBS’s very detailed questionnaire, there was scope for Botswana and Rwanda to further improve the information presented in the budget document.

Meanwhile, Namibia placed 3rd with a score of about 50%.

 

COUNTRY SCORE                (%) RANKING
South Africa 85 1st
Ghana 53 2nd
Namibia 50 3rd
Kenya 49.5 4th
Benin 49 5th
Zimbabwe 48 6th
Senegal 45 7th
Mozambique 43 8th
Sierra Leone 39 9th
Rwanda 39 10th
Liberia 38.5 11th
Mali 38 12th
Botswana 38 13th