- Introduction/ Background:
According to the research I have done I've found that Ghana's government needs help bettering their budget. This projects development objective, for the general public Financial Management Reform, is to enhance the budget management, financial control and reporting of Ghana's government. In these projects the organizations contribute to boosting fiscal discipline, service delivery efficiency, through strengthened systems and procedures. The components for this project show financial management and budget strategies to help Ghana.
In reviews dated back again to the 1990s of the general public Financial Management in Ghana show they have several weaknesses in this technique. They have a weak budget formulation and a weak budget preparation. They also have a weak expenditure monitoring and controlling the budget. Ghana's lacking a good accounting and good monitoring system. These problems would catch the eye of any public administration major.
This reform has been done to raised the government of Ghana. If this was to visit successfully it would influence the general public greatly. In the field of public administration, you would want to help the general public anywhere become much better than it already is. With this title, you should understand how to help better their budget and help with some small accounting work.
- Supporting the Budget Reform in Ghana:
The new Public Financial Management system set up for Ghana will use tools for improving fiscal management and budgetary control. They will increase economical management by causing technology upgrades that will assist improve debt and cash management, and boost timely and accurate reporting. They'll also improve budget managements strength. This new system will also try to fortify the credibility of the national budget. A technique to aid Ghana's debt was developed by this new system.
During the 2000s a legislative review was done on the general public Financial Management system and there have been many components. Ghana had Financial and Accounting Reforms, Revenue Management, Audit Reform and Procurement Reforms. This technique helped launch other systems including the Budget and Public Expenditure Management System, it also influenced fiscal decentralization and payroll reform initiatives. They improved the payroll management system.
The system also help build ministries, departments and agencies capacity to build up costed sector strategies. They would like to strengthen linkage and information between sectors. To help the debt they would like to strengthen capacity in the Debt Management Division. To help improve efficiency in the delivery of public services, they have introduced performance measurement in to the budget management. This can help Ghana keep track of every credit spent.
Ghana's government would as review capital spending and the strategy for financing capital projects. Ghana plans to generate measures to strengthen local earnings under its fiscal decentralization reforms.
- Negatives of Budget Reform:
Even with the new system there are still issues that can be created or come across. Ghana's government still have a higher level of debt the necessity to lower, large fiscal deficits, and insufficient fiscal space for public investments. They are major constraints to Ghana's economical growth, said Yusupha B. Crookes, World Bank Country Director for Ghana. "The reforms supported by today's project give attention to critical and priority regions of the Government that together could facilitate transparent and accountable fiscal governance in Ghana. " Lack of robust accounting, monitoring quality and timely data on government resources.
The Public Expenditure and Financial Accountability made an assessment in 2012 and fiscal discipline was weak and remained a problem. The distribution of resources for strategic priorities undermined triggering efficiency operating delivery to be adversely affected. "Ghana has invested in programs targeted at strengthening Public Financial Management in government, but significant institutional, policy, and system weaknesses continue to manifest themselves limiting the impact of the reforms, " said Ismaila B. Ceesay, World Bank Task Team Leader because of this Project. He believes that way too many poor people are in Ghana to improve the delivery of basic services.
There are even some legislative limitations that come with this new system. Making business change their process for the general public Financial Management system required revision of laws to support this process. Skill gaps and capacity were created in RECRUITING sector, especially in the area of information and communications technology, and analytical skills.
- Critique of Both Arguments
After going right through both sides, I could tell both sides relied on some of the same things. Both sides have different take on Ghana's debt. Supporter of the new reform want to place programs in destination to help lower the national debt overtime. Over the bad side, they feel that your debt is too much and the individuals basically think from the waste of money and time to generate programs for lowering it. I agree with the people to get these new ideas to lowering the debt and generate more income into Ghana. How could a nation create a much better budget with a superb debt? Me personally, I really do not think that you can.
I am in complete support of the new reform and the ideas that include it. I'm also able to see how the non-supporters are feeling. After being in place for a few years, there was very little changes. People were also using funds for the wrong purposes. Learning this type of information could make many people no rely upon the new ideas. With all the influx of new ideas for the reform, there are bound to be new problems to come with it. I believe Ghana's nation need better visitors to lead them in your path. They want people who will watch and manage them while going through this process. I think that if indeed they had more management they will make actual changes.
These two arguments are extremely complementary to one another, without one the other would not exist. In my eyes the argument supporting the new budget and new reforms is the superior of both. I think this because Ghana is well known to be poor, and need something to help bring in income. Generate more income will affect the public greatly. This may bring the number of the indegent in Ghana to go down. This might also cause funding for projects to go to the right place.
- Conclusion:
Ghana has an extremely poor budget and an outstanding debt to go with it. Additionally their governmental structure is also poor and needs management in these areas. If Ghana provides the support they want in these areas, they could commence to make real changes. Without management Ghana's government, will not make any large improvements and the reform will fail.
This research has shown me that nations all around the world have a split in them. There will be people on two opposite with different views. Public administrators will be greatly prepared because of this situation. They would be great regulators and managers. Already being associated with work from both United States parties they will learn how to take a look at each and try to work out a solution that is most effective for the folks.
- References:
- Ugwumadu, Judith. "Ghana Budget Ushers In Programme-Based PFM Reforms | Public Finance". Publicfinanceinternational. org. N. p. , 2017. Web. 9 Mar. 2017.
- washington, . "Public Finance Management Reform In Ghana Receives World Bank Support". The world Bank. N. p. , 2017. Web. 4 Mar. 2017.
- Ibrahim, Levent. THE TINY Data Book On External Debt 2012. 1st ed. Washington, D. C. : World Bank, 2012. Print.
- "Projects : Ghana: Public Financial Management Reform Project | THE EARTH Bank". Projects. worldbank. org. N. p. , 2017. Web. 9 Mar. 2017.
