As per the July 2011 edition of the Banker Magazine, Ghana is among the quickest growing economies on a global basis. One of the major challenges for the 2012 budget will be to continue that trend of development. The real GDP growth for 2011 is 13.6 percent and the budget for the upcoming fiscal will attempt to take that rate further.
Ghana Budget 2012 Highlights and Expectations
In the previous three fiscals, the budgets have improved the standards of living across the country significantly. This budget is expected to help raise the bar even further.
The Ghana budget 2012 will aim to provide important infrastructural facilities to different parts of the national economy for accentuating the growth rate. The private sector will also be supported in this period to generate additional jobs and thus raise the income levels of the Ghanaian people.
The 2012 budget will focus on several important infrastructure-related projects as per the Ghana Shared Growth and Development Agenda. The main areas of focus will be electricity, gas and oil, railways, roads and ports, sanitation and water, as well as health, agriculture and education. The railways, roads and ports section will primarily emphasize on the western and eastern corridors.
The 2012 budget will keep on implementing several intervention programs aimed at assisting the economically backward people. These initiatives will help in creating equal opportunities for the overall well-being and improvement of the people. The overall scope of these programs will be expanded so that a greater number of people can be benefited.
The National Health Insurance Scheme (NHIS) will be started in 2012. This program will include health policies with one time premium payment and attempt to fulfill the government s commitment of all-inclusive health coverage.
The NHIS will monitor Capitation, which is a substitute Provider Payment Mechanism or PPM. The program will also be reviewed in order to restructure it at district, national and regional levels.
A Fiscal Decentralization Unit will be set up in the Ministry of Finance and Economic Planning. This body will help in executing the financial decentralization program. It has been in the planning stages for several years now.
As per the 2012 budget the Metropolitan, Municipal and District Assemblies or MMDAs will have to fix their expenses at par with the government s aims of overall economic development. It is on basis of these plans, that the central government will allocate resources to these bodies.
Policies for improving the payroll administration via audits will be implemented in 2012. The set up will also be cleaned up in order to do away with the excesses and wastage.
In 2012 the government will connect payments of public sector workers with their productivity. It is expected that this decision will help in improving their overall performances.
Polls will be contested in 2012 as well, in tune with the democratic consolidation procedures, initiated by the national government. The Parliamentary and Presidential elections will be monitored by the Election Commission who will be equipped by the national government to carry out a free, transparent and fair election.