The Ministry of Finance has expressed its commitment to build a robust public financial management system to promote the economic development of the country.
The Director of Public Financial Management Reform Project (PFMRP), Dr Mohammed Sani Abdulai, said the latest Public Expenditure and Financial Accountability (PEFA) Report indicated measures to guard against wasteful expenditure and judicious use of state resources.
“The report basically says that our current PFM is one of the best we can find anywhere in our part of the world.
It showed that for macro-fiscals and the way we do our fiscal forecasting and strategy, Ghana has moved from a D in 2016 to a B as we speak today and that is an achievement that is worth talking about.
“There are about 31 indicators and if you do a comparative analysis between 2016 and 2018 scores in this assessment, you will see a mile’s difference because there is much improvement,” he added.
According to him, the report had justified why Ghana’s PFM had become a showpiece for many other countries which came to the country to understudy the system.
Dr Abdulai said the improved performance was largely the result of strategic fiscal policies by the government, especially, the Ghana Integrated Financial Management Information System (GIFMIS).