[{"bbox": [97, 152, 1163, 206], "category": "Text", "text": "producers and exporters from Ghana. This creates an opportunity to accelerate thinking on how to adopt to and comply with these new market requirements in order for Ghanaian exports to be competitive on the EU market."}, {"bbox": [97, 231, 1163, 419], "category": "Text", "text": "As regards the framework for greening of the private sector, opportunities stem also from the Updated Nationally Determined Contribution under the Paris Agreement (2020 - 2030). They translate into 13 adaptation and 34 mitigation programmes of action (referred to as measures). The policy actions have the potential to maximise the synergies between adaptation and economic diversification, resulting in adaptation/mitigation co-benefits, All major objectives of the NDC are relevant to this Project, as it aims at: Generating absolute greenhouse gas (GHG) emission reductions of 64 MtCO2e; Avoiding at least 2,900 premature deaths per year from improved air quality; Creating over one million decent and green jobs; Targeting the youth and women"}, {"bbox": [97, 444, 1163, 657], "category": "Text", "text": "The government recognises the opportunity that **digital development** has for stimulating jobs in key sectors, improving productivity, and accelerating inclusive growth both directly in the ICT sector and as an enabler for other high-potential sectors, and has pledged to put digital economic transformation at the centre of the Ghana Beyond Aid agenda. According to the World Bank (2019), Ghana performs relatively well on the availability of digital infrastructure – with high coverage and relatively low costs for mobile internet. Digital commerce is ramping up, positioning Ghana as the sixth country in Africa in B2C e-commerce in 2018, climbing six positions from its 2017 ranking. However, most of the digital infrastructure is concentrated in urban and commercial areas with large sections of the country’s rural areas without effective coverage."}, {"bbox": [97, 682, 1163, 843], "category": "Text", "text": "In a nutshell, Ghana has suffered from a lack of productive employment opportunities for workers moving out of agriculture, limiting the contribution of structural change to growth. **Digital technologies together with complementary analogue technologies could help raise the productivity of MSMEs and generate more and better jobs in terms of productivity, firm upgrading and entrepreneurship, thereby driving the growth of higher quality jobs in Ghana.** At the same time, the green economy offers a high potential for job creation in new and existing sectors."}, {"bbox": [97, 867, 1163, 1345], "category": "Text", "text": "The **PFM landscape** has seen mixed performance over the last couple of years. The most recent Public Expenditure and Financial Accountability (PEFA) assessment conducted in 2018 and subsequent PFM reform reviews indicate that PFM progress improved, albeit marginally. In the years 2019-2021 work has been ongoing to address these identified weaknesses, but at first sight this does not seem to have led to a significant improvement in the PEFA ratings. Main weaknesses prevail particularly in budget reliability, which could not be rated because GIFMIS does not include all government expenditures. Weaknesses also persist in transparency of public finances (the latest Open Budget Survey conducted in 2021 shows insufficient, yet above global average performance in budget transparency (56/100), while public participation fares even worse (20/100)). Also struggling is the performance in budget execution predictability and control, in revenue administration, accounting for revenue, expenditure arrears, procurement (no comprehensive procurement assessment commissioned by the Government in the recent past) and in follow-up and implementation of both internal and external audit recommendations. Gender equality concerns are not adequately addressed in the formulation and execution of the budget, including monitoring and reporting. Some measures have been taken over 2019 to 2021 to address the situation. For instance, the internal audit function was expanded further throughout the government and internal auditing has started in MDAs, focusing on risk-based and systemic issues; the number of audits has been further expanded in 2020 and e-Procurement has been adopted, making Ghana the first country in West Africa to establish an electronic procurement system for the public sector. On the revenue side and in spite of several reforms adopted in the revenue administration angle, mainly in digitalisation, the envisaged increased tax/GDP ratio did not materialise."}, {"bbox": [97, 1371, 1163, 1532], "category": "Text", "text": "In response to these challenges the Government approved in April 2022 a 5-year strategy (2022-2026) structured around five pillars, namely: macro-fiscal framework, budget preparation and approval, control predictability and transparency in budget execution, accounting and reporting using GIFMIS, and external audit and parliamentary scrutiny. These pillars are divided into 17 Strategic Objectives (SO). Volume 2 of the Strategy 2022-2026 contains the Action Plan (AP), presenting in detail 40 activities to be undertaken under the 17 SOs, including the costs of implementation of activities, the planned benefits as well as baseline and targets to be achieved."}, {"bbox": [97, 1557, 1163, 1638], "category": "Text", "text": "The PFM-related activities of this action will align with the new Strategy and help foster fiscal discipline and therefore contribute to macroeconomic stability in the medium term. A division of labour on PFM priorities and capacity development has been agreed with the IMF, the World Bank and other development partners active in that field."}, {"bbox": [1038, 1680, 1143, 1705], "category": "Page-footer", "text": "Page 7 of 30"}]