strengthening domestic resource mobilization and leveraging public expenditures in ghana 2
TRANSCRIPT
Strengthening Domestic Resource Mobilization and Leveraging Public Expenditures in
Ghana- West Africa.was
adopted in
the year
2000 -2015
1. Overcoming poverty
Infact SGD's just seems ambitious, complex and seems unattainable.
The SDGs are of dual challenge
2. Protecting the planet
becausebecause!!!!!!!!!!, , More financial resources are
available globally, but channeling them to support the
SDGs is the only challenge.
These are the Sources of Public and Private Finance 1. Official Development Finance (ODA)
2. Migrant Remittances
3. Foreign Direct Invest (FDI)
4. Private Philantrophy
5. Domestic resource mobilization (DRM)
BUT NOTE!!!! • The realization of the SDGs will require more than money.
• But needs a global change of > mindsets > approaches and > accountabilities
Source:http://www.un.org/esa/ffd/wpcontent/uploads/2015/03/1ds-zero-draft-outcome.pdf .
Domestic resource mobilization (DRM) has
increasingly become a key source for funding
national development plans. Reflecting positive
global growth trends, DRM of emerging and
developing economies amounted to US$ 7.7
trillion in 2012.
That is, developing country treasuries now receive
over US$ 6 trillion more each year than in 2000, Source“Financing for Development Post-2015,” World Bank, 2013
Because 50% to 80 % of resources needed to finance the SDGs will have to come from countries’ own domestic resources.
source: United Nations Report on MDGs
***Therefore we have to Strengthen Domestic Resource Mobilization (DRM) and
Leverage Public Expenditures in Ghana.
**
• DRM includes Tax and Non-Tax Revenues
Tax to GDP Ratio in Developing Countries
**Tax to GDP Ratio in Developing Countries is about 17% and in OECD Countries is about 35%, this tells the opportunity of Developing countries to access more of tax revenues.
• Tax policies and smart tax administration efforts.
• Use of Technology to reduce illicit financial flows
• Strengthen the capacity of tax agencies to implement tax policies.
How to Mobilize Tax Revenues Efficiently in Ghana.
Controlling Public Expenditure in Ghana
****Public Expenditure is all about
1. Doing the right things and
2. Doing them well
and it is in both in Allocative aspect and technical aspect.