The Republic of Ghana : Selected Policy Issues

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dc.creatorWorld Bank
dc.date2012-12-03T21:07:58Z
dc.date2012-12-03T21:07:58Z
dc.date2012-06-30
dc.date.accessioned2026-07-01T00:55:35Z
dc.descriptionFollowing the December 2010 start-up of the Jubilee Field, Ghana has begun receiving royalty and tax revenues from oil production. At peak production, Jubilee could generate over US$1 billion in annual revenues for Ghana, a figure that will constitute 3 percent of 2011 non-oil Gross Domestic Product, or GDP and 18 percent of total government revenue. Recognizing the critical role oil revenues will play in Ghana's economic development; government is increasingly focused on generating short-term and long-term forecasts of oil revenues as inputs to its planning and policy-making. Oil revenue forecasts are needed for budgeting, long-term and medium-term fiscal planning, tax policy, and a broad set of petroleum and energy sector policy decisions. The immediate focus is on predicting the revenues that will flow from Jubilee itself; however, the announcements of significant additional discoveries at Mahogany Deep, Enyenra, Tweneboa, Teak, Sankofa, Dzata, and Paradise suggest that long-term oil revenues could be derived from multiple sources. Oil revenue forecasting is not intrinsically difficult but attention to details is important. For Ghana, the most challenging implementation details will be the ones related to the start-up of oil production at Jubilee. Price volatility is an ever-present challenge to forecasters but there are accepted approaches for taking this into account. However, the key to a successful on-going revenue forecasting process is to develop defined responsibilities and routines for information sharing, consistent and realistic methods for forecast calculation, and clear communication and dissemination of assumptions and results.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2012/06/16955017/ghana-selected-policy-issues
dc.identifierhttps://hdl.handle.net/10986/11870
dc.identifierhttps://doi.org/10.1596/11870
dc.identifier.urihttp://hdl.handle.net/123456789/413046
dc.languageEnglish
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectACCESS TO FINANCE
dc.subjectACCOUNTING
dc.subjectAGRICULTURAL PRACTICES
dc.subjectAGRICULTURE
dc.subjectAGRICULTURE ORGANIZATION
dc.subjectAMORTIZATION
dc.subjectBALANCE OF PAYMENTS
dc.subjectBANKS
dc.subjectBENCHMARK
dc.subjectBENCHMARKING
dc.subjectBUDGETING
dc.subjectBUSINESS ADVISORY
dc.subjectBUSINESS ASSOCIATIONS
dc.subjectBUSINESS DEVELOPMENT
dc.subjectBUSINESS DEVELOPMENT SERVICES
dc.subjectBUSINESS ENVIRONMENT
dc.subjectBUSINESS PLAN
dc.subjectBUSINESS PLANNING
dc.subjectCAPITAL ASSETS
dc.subjectCAPITAL COSTS
dc.subjectCAPITAL GAINS
dc.subjectCAPITAL STRUCTURE
dc.subjectCASH FLOW
dc.subjectCASH FLOW MODEL
dc.subjectCASH FLOWS
dc.subjectCASH PAYMENTS
dc.subjectCENTRAL BANK
dc.subjectCHILD LABOR
dc.subjectCOMMODITIES
dc.subjectCOMMODITY
dc.subjectCOMMUNITY DEVELOPMENT
dc.subjectCOMPETITIVENESS
dc.subjectCOOPERATIVES
dc.subjectCORPORATE INCOME TAX
dc.subjectCORPORATE SOCIAL RESPONSIBILITY
dc.subjectCOST OF CAPITAL
dc.subjectCREDIBILITY
dc.subjectCURRENCY
dc.subjectDECISION MAKING
dc.subjectDEDUCTIBLE
dc.subjectDEPOSIT
dc.subjectDEVELOPMENT ASSISTANCE
dc.subjectDEVELOPMENT BANK
dc.subjectDEVELOPMENT POLICIES
dc.subjectDEVELOPMENT STRATEGY
dc.subjectDIVIDEND
dc.subjectDIVIDENDS
dc.subjectDOMESTIC MARKETS
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC RECOVERY
dc.subjectELECTRICITY
dc.subjectENDOWMENTS
dc.subjectEQUIPMENT
dc.subjectEQUITY HOLDING
dc.subjectEXCHANGE RATE
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPORTS
dc.subjectFAIR TRADE
dc.subjectFARMER
dc.subjectFARMERS
dc.subjectFINANCIAL ADMINISTRATION
dc.subjectFINANCIAL ANALYSIS
dc.subjectFINANCIAL HISTORY
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL NEEDS
dc.subjectFISCAL ADMINISTRATION
dc.subjectFISCAL MODELS
dc.subjectFISCAL POLICY
dc.subjectFORECASTING MODELS
dc.subjectFORECASTING TECHNIQUES
dc.subjectFORECASTS
dc.subjectFREE TRADE
dc.subjectFUTURE CASH FLOW
dc.subjectFUTURES
dc.subjectGDP
dc.subjectGOOD FAITH
dc.subjectGOOD GOVERNANCE
dc.subjectGOVERNMENT REVENUE
dc.subjectGOVERNMENT REVENUES
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHOLDING
dc.subjectINCOME
dc.subjectINCOME TAX
dc.subjectINCOME TAXES
dc.subjectINDIVIDUAL INVESTOR
dc.subjectINFORMAL ECONOMY
dc.subjectINFORMATION FLOWS
dc.subjectINFORMATION SHARING
dc.subjectINFORMATION SYSTEM
dc.subjectINFRASTRUCTURE DEVELOPMENTS
dc.subjectINSURANCE
dc.subjectINSURANCE AGENCY
dc.subjectINTEREST EXPENSE
dc.subjectINTEREST EXPENSES
dc.subjectINTERNAL RATE OF RETURN
dc.subjectINTERNATIONAL DEVELOPMENT
dc.subjectINTERNATIONAL FINANCIAL INSTITUTION
dc.subjectINTERNATIONAL STANDARDS
dc.subjectINVESTMENT MANAGEMENT
dc.subjectINVESTMENT PLAN
dc.subjectINVESTMENT PLANS
dc.subjectINVESTMENT PROJECTS
dc.subjectJOINT VENTURE
dc.subjectJOINT VENTURES
dc.subjectJURISDICTIONS
dc.subjectLACK OF TRANSPARENCY
dc.subjectLEGAL FRAMEWORK
dc.subjectLEVEL OF RISK
dc.subjectLICENSES
dc.subjectLIQUIDITY
dc.subjectLOAN
dc.subjectLOCAL GOVERNMENT
dc.subjectMACROECONOMIC PLANNING
dc.subjectMARKET ACCESS
dc.subjectMARKET INTEREST
dc.subjectMARKET INTEREST RATES
dc.subjectMARKET PRICING
dc.subjectMATURITY
dc.subjectMEDIUM TERM EXPENDITURE FRAMEWORK
dc.subjectMFIS
dc.subjectMICROFINANCE
dc.subjectMICROFINANCE INSTITUTIONS
dc.subjectMIDDLE INCOME COUNTRIES
dc.subjectMIDDLE INCOME COUNTRY
dc.subjectMIDDLE-INCOME COUNTRIES
dc.subjectMONETARY FUND
dc.subjectMULTIPLIER EFFECT
dc.subjectMUNICIPALITIES
dc.subjectNATIONAL INCOME
dc.subjectNATURAL RESOURCE
dc.subjectNATURAL RESOURCES
dc.subjectOIL PRICE
dc.subjectOIL PRICES
dc.subjectOPERATING COST
dc.subjectOPERATING COSTS
dc.subjectOPTIMIZATION
dc.subjectOUTPUT
dc.subjectOUTSOURCING
dc.subjectPERSONAL INCOME
dc.subjectPRICE TRANSPARENCY
dc.subjectPRICE VOLATILITY
dc.subjectPRIVATE INVESTORS
dc.subjectPRIVATE SECTOR
dc.subjectPROFITABILITY
dc.subjectPROVISIONS
dc.subjectPUBLIC
dc.subjectPUBLIC GOODS
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC POLICY
dc.subjectPUBLIC SECTOR
dc.subjectRATE OF RETURN
dc.subjectREAL EXCHANGE RATE
dc.subjectRECEIPTS
dc.subjectREGIONAL TRADE
dc.subjectREGULATOR
dc.subjectRESERVE
dc.subjectRESERVES
dc.subjectRESOURCE ALLOCATION
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectREVENUE COLLECTION
dc.subjectREVENUE MANAGEMENT
dc.subjectREVENUE VOLATILITY
dc.subjectSALES REVENUE
dc.subjectSALES REVENUES
dc.subjectSHAREHOLDER
dc.subjectSLIDING SCALE
dc.subjectSMALL ENTERPRISES
dc.subjectSOCIAL PROTECTION
dc.subjectSOCIAL WELFARE
dc.subjectSTART-UP
dc.subjectSTOCK EXCHANGE
dc.subjectSUSTAINABLE DEVELOPMENT
dc.subjectTAX ASSESSMENT
dc.subjectTAX BREAK
dc.subjectTAX COLLECTION
dc.subjectTAX COLLECTIONS
dc.subjectTAX DEDUCTION
dc.subjectTAX DEDUCTIONS
dc.subjectTAX LAW
dc.subjectTAX POLICY
dc.subjectTAX RATE
dc.subjectTAX RATES
dc.subjectTAX REGIME
dc.subjectTAX REVENUE
dc.subjectTAX REVENUES
dc.subjectTAXATION
dc.subjectTRACK RECORDS
dc.subjectTRADE ASSOCIATIONS
dc.subjectTRADE LIBERALIZATION
dc.subjectTRADE POLICIES
dc.subjectTRADE SECTOR
dc.subjectTRADES
dc.subjectTRADING
dc.subjectTRANSACTION
dc.subjectTRANSPARENCY
dc.subjectTRANSPARENCY INITIATIVE
dc.subjectUNION
dc.subjectURBANIZATION
dc.subjectVALUATION
dc.subjectWITHHOLDING TAX
dc.subjectWORKING CAPITAL
dc.titleThe Republic of Ghana : Selected Policy Issues

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