Government has launched its 4th annual report on Public Expenditure and Financial Accountability on Friday, August 9, 2019.
The piece put together by Ministry of Finance is said to access and deliver comprehensive reports on how the public funds have been used and also seek to find adequate protection for the public purse.
According to the Acting Director of NDPC Grace Bediako, the Public Expenditure and Financial Accountability report was based on the 2016 PEFA assessment framework, which is intended to establish the baseline in which Public Financial Management (PFM) performance of the country will be benchmarked.
“The report provides a comprehensive report of the strength and weaknesses of Ghana PFM’s systems with regards to areas of budget reliability,” she says. “These are the transparency of public finances, managements of assets and liabilities, policy based fiscal strategy and budgetary, predictability and control in budget execution, accounting and reporting as well as externals recruiting and audits.”
She noted that the president’s vision in making Ghana a country beyond aid has a long way ahead but is hopeful it will achieve massive result.
“As a country we have a long way to go if we are to achieve the president’s aim of Ghana beyond aid but this provides a good starting point for us and I’m confident that a new can-do spirit that we are showing in due cause will lead us to our success,” she mentioned.
Project Director Dr Mohammed Sani Abdulai on his part stated that the PEFA 2018 assessment is to provide government with an objective, indicator-led assessment of the PFM system in a concise and standardized manner, in order to promote a restructured understanding of the overall fiduciary environment of the PFM systems, and to assist in identifying those parts of the PFM systems in need of further reform and development.
Furthermore, Dr Abdulai indicated that the report is not a political document but rather a technical document for everyone both in government and in opposition.
He stated that the document guides how Public Financial Management (PFM) is done in the country.
“The report has generally praised Ghana…PEFA provides a way of measuring how you are faring on this very technical issue.
This document is not a political document. This document is a technical document to guide how PFM is done in Ghana. PFM does not determine policy or set up policy goals and objectives. PFM provides the tools that are used in implementing policy… it is a document for everybody whether in government or opposition. It is not a political document at all,” he said.
