Economic Management Strengthening

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The objective of the Economic Management Strengthening Project is to strengthen the Government of Ghana’s institutional capacity for revenue and expenditure management. There are five components to the project, the first component being strengthening Ghana revenue authority’s business intelligence system. The overall objective of this component is to improve tax compliance, integrate income assessment regardless of source and location, simplify the processes, and align with international tax rules. The second component is the Strengthening Debt Management. The objective of this component is to strengthen the MoF’s capacity to manage public debt with a high degree of transparency as well as to improve treasury management and forecasting. This component complements PAs 4 and 5 of the DPO. The third component is the strengthening capacity in public investment management. The overall objective is to develop and institutionalize a functional, transparent process for public investment programming that is applied across the Government. Such a process will help to improve the contribution of public investment to growth and economic development in Ghana. The fourth component is the improving the governance of State-owned Enterprises (SOEs). To improve SOE governance, the project will support reforms aimed at (a) consolidating the state’s ownership role through an equity study and preparatory work for setting up a single entity responsible for overseeing SOEs; (b) establishing the SOE single entity; and (c) piloting corporate governance improvements in five SOEs. A brief description of each of the subcomponents is provided below, including the activities to be supported by the proposed project. This component complements PAs 6 and 7 under the DPO. Finally, the fifth component is the project management.