Resource mobilisation is essential for achieving the Sustainable Development Goals (SDGs). Efforts to strengthen the economy and to improve revenue have been positive since January 2017. In 2018, Ghana was recognized as the fastest growing economy in the world and successfully concluded the IMF-ECF programme on April 2, 2019. Now, more than ever, it is critical that we aggressively marshal our collective efforts to increase revenue to ensure the sustainable financing of the government’s Coordinated Programme of Economic and Social Development Policies, which is to ensure development and prosperity for all Ghanaians.
The national budget provides a direct measure of government’s actual commitment to the Sustainable Development Goals, while information on actual spending indicates how government has followed through on the planned budget expenditure. We recognize the importance of reporting on how the SDGs are aligned with the national budget, particularly as a means of communicating the progress made to Ghanaians and ultimately to the global community. With President Akufo-Addo having been re-nominated as co-chair of the UN’s advocacy group for the SDGs, we are grateful for the opportunity to work towards accelerating progress towards ensuring that the SDGs are aligned with the national budget.
Ghana continues to demonstrate leadership by developing a new SDG budgeting strategy; this includes tools for tracking budgetary allocation and the creation of a cost analysis report system. In this SDGs budget report, we are preparing for a decade where we scale up the implementation of the SDGs to ensure that our People and Planet get to Prosper.
This report is based on a tracking system developed and co-created by our competent staff at the Ministry of Finance. It allows for the tracking of budget allocations across Ministries, Departments and Agencies (MMDAs), as well as Metropolitan, Municipal and District Assemblies (MMDAs).
As Minister for Finance, it is of particular importance to me that these efforts on SDG budgeting are institutionalized in all MDAs and MMDAs; only then will the system in itself become sustainable.
Our new tracking methodology also provides clarity on sources of funding for the various targets and goals; this is important information as we work together with our development partners and private sector towards achieving President Akufo-Addo’s vision of a Ghana Beyond Aid. Our ability to track our spending on the SDGs also helps us identify the additional resources that must be mobilised as a country.
To hasten and facilitate the national resource mobilisation process, the Ministry of Finance has also launched an annual Accra SDGs Investment Fair initiative in partnership with the SDGs Office at the Presidency and the Ghana Investment Promotion Center (GIPC). The first Accra SDGs Investment Fair was organised on December 5, 2018.
In the aftermath of the maiden Accra SDGs Investment Fair, work on establishing a National Advisory Board for SDG Impact investments has started. Eventually this will bring onboard a broader impact-investing ecosystem to help implement, in a robust and sustainable way, the SDGs in Ghana and beyond.
The theme of the 2019 budget is A Stronger economy for Jobs and Prosperity. According to the Afro-barometer’s 2018 survey Ghanaians reportedly see Goal 8, Decent Work and Economic Growth as the most important goal to prioritize.
This report will be included in Ghana’s prepared Voluntary National Reviews (VNRs) to be submitted to the High Level Policy Forum (HLPF) at the United Nations. We are looking forward to interacting with other countries on SDG budgeting. We are truly excited about the visibility we are bringing to the SDGs and the catalytic role of President Akufo-Addo in promoting the SDGs globally.
As Ghana moves Beyond Aid, we look forward to partnering with all stakeholders to bring inclusive prosperity to all. God Bless.
Minister for Finance
Republic of Ghana