The Budget Statement and Economic Policy

1 REPUBLIC OF GHANA The Budget Statement and Economic Policy of the Government of Ghana for the 2021 Financial Year Presented to Parliament on Friday, 12th March, 2021 By Osei Kyei-Mensah-Bonsu, MP, Suame, Minister for Parliamentary Affairs, Majority Leader & Leader of Government Business THEME: Economic Revitalisation through Completion, Consolidation & Continuity W n Y a W o Hi , B u d g e t On the Authority of His Excellency Nana Addo Dankwa Akufo-Addo, President of The Republic of Ghana Transforming Ghana Beyond Aid Stay Safe.

2 Protect yourself and others Observe the COVID-19 Health and Safety Protocols Get Vaccinated of the Government of Ghana for the 2021 FINANCIAL YEAR Presented to Parliament on Friday, 12th March, 2021 By Osei Kyei-Mensah-Bonsu, MP for Suame Constituency. Minister for Parliamentary Affairs, Majority Leader & Leader of Government Business THEME: Economic Revitalisation through Completion, Consolidation & Continuity W N YA W HI Budget ! ON THE AUTHORITY OF HIS EXCELLENCY NANA ADDO DANKWA AKUFO-ADDO, PRESIDENT OF THE REPUBLIC OF GHANA The Budget Statement and Economic Policy To purchase copies of the Statement , please contact the Public Relations Office of the Ministry Ministry of Finance Public Relations Office New Building, Ground Floor, Rooms 001 and 003 P.

3 O. Box MB 40 Accra Ghana The 2021 Budget Statement and Economic Policy of the Government of Ghana is also available on the internet at: Economic Revitalisation through Completion, Consolidation & Continuity i ACRONYMS AND ABBREVIATIONS 1D1F One District One Factory 1V1D One Village One Dam AAM USED A. A. Menka University for Skills Training and Entrepreneurial Development ABFA Annual Budget Funding Amount ABRP Annual Borrowing and Recovery Plan ADR Alternate Dispute Resolution AfCFTA African Continental Free Trade Area AfDB African Development Bank AGI Association of Ghana Industries AIDS Acquired Immune Deficiency Syndrome AMCs Asset Management Companies AML Anti-Money Laundering ANS Air Navigation Services API Active Pharmaceutical Ingredients APR Annual Progress Report ARAP Anti-Corruption Rule

4 Of Law and Accountability Programme ART Antiretroviral Therapy ATO Aviation Training Organization AU African Union AWS Amazon Web Services BDS Business Development Services BECE Basic Education Certificate Examination BGL Bureau of Ghana Languages BIAT Boosting Intra-African Trade BoG Bank of Ghana BOP Balance of Payments BR Benchmark Revenue BRCs Business Resource Centres BRR Business Regulatory Reforms CAP Coronavirus Alleviation Programme CAP BuSS Coronavirus Alleviation Programme Business Support Scheme CAPI Carried and Participating Interest CAPS Centralised Applications Processing System CAR capital Adequacy Ratio CARES COVID-19 Alleviation, Revitalisation and Enterprise Support Programme CBT Competency Based Training CCP Common Core Programme CD Chieftaincy Declaration CDC Centre for Disease Control CDPP Centralised Digital Payment Platform CDVTIs Community Development Vocational and Technical Institute Economic Revitalisation through Completion.

5 Consolidation & Continuity ii CET Common External Tariff CHRAJ Commission on Human Rights and Administrative Justice CIS Canoe Identification System CISA Certified Information System Auditor CLASS Complementary Livelihood Asset Support Scheme CLFZs Child Labour Free Zones CLTS Community-Led Total Sanitation CMO Commodity Markets Outlook CMS Cocoa Management System CNS Communication, Navigation and Surveillance CODAPEC Cocoa Diseases and Pests Control Programme CPA Commonwealth Parliamentary Association CPI Consumer Price Index CRAs Credit Risk Assessments CRIG Cocoa Research Institute of Ghana CRM Cylinder Recirculation Model CRR Cash Reserve Requirement CS Credit Suisse CSA Climate Smart Agriculture CSD Coffee and Shea Division CSIR Council for Scientific and Industrial Research CSPG Cross Sectoral Planning Groups CSSVD Cocoa Swollen Shoot Virus Disease CTD Convention

6 Travel Documents DACF District Assemblies Common Fund DBG Development Bank for Ghana DCRA Domestic Credit Rating Agency DDROs District Registration Review Officers DFI Department of Factories Inspectorate DLSS District Level Scholarships Scheme DMU Diesel Multiple Unit DoVVSU Domestic Violence and Victim Support Unit DPAT District Assemblies Performance Assessment Tool DPC Data Protection Commission DSA Debt Sustainability Analysis DSSI Debt Service Suspension Initiative DVLA Driver Vehicle and Licensing Authority EC Electoral Commission ECE Early Childhood Education ECOWAS Economic Community of West African States EDRL Energy Debt Recovery Levy EOCO Economic and Organised Crime Office EPA Environmental Protection Agency EPMA Electronic Property Mass Appraisal System Economic Revitalisation through Completion.

7 Consolidation & Continuity iii EPRP Emergency Preparedness and Response Plan ERM Enterprise Risk Management ESIA Environmental and Social Impact Assessment ESL Energy Sector Levies ESLA Energy Sector Levies & Accounts ETLS ECOWAS Trade Liberalization Scheme FAW Fall Army Worm FBO Fixed Based Operator FDA Food and Drug Authority FDI Foreign Direct Investment FEWRS Flood Early Warning Response System FIC Financial Intelligence Centre FLEGT Forest Law Enforcement Governance and Trade FOB Forward Operating Base FPU Formed Police Unit FSD Forest Services Division FWA Framework Agreement GAC Ghana Aids Commission GAEC Ghana Atomic Energy Commission GAF Ghana Armed Forces GALOP Ghana Accountability for Learning Outcomes Project GAMA Greater Accra Metropolitan Area GAMA-SWP Greater Accra Metropolitan Area Sanitation and Water Project GARID Greater Accra Resilient and Integrated Development GARNET Ghana Academic and Research Network GASIP Ghana Agricultural Sector Investment Project

8 GASSLIP Greater Accra Sustainable Sanitation and Livelihoods Improvement Project GDP Gross Domestic Product GEA Ghana Enterprises Agency GELIS Ghana Enterprise Land Information System GETFund Ghana Education Trust Fund GFIM Ghana Fixed Income market GFPCIP Ghana Family Planning Costed Implementation Plan GFZA Ghana Free Zones Authority GHANEPS Ghana Electronic Procurement System GhiLMIS Ghana Logistic Management Information System GhIS Ghana Institution of Surveyors GhLIB Ghana Land Information Bank GHS Ghana Health Service GIADEC Ghana Integrated Aluminium Development Corporation GIDA Ghana Irrigation Development Authority GIFEC Ghana Investment Fund for Electronic Communications GIFMIS Ghana Integrated Financial Management Information System Economic Revitalisation through Completion.

9 Consolidation & Continuity iv GIIF Ghana Infrastructure Investment Fund GIISDEC Ghana Integrated Iron and Steel Development Corporation GIMPA Ghana Institute of Management and Public Administration GIPC Ghana Investment Promotion Centre GIPO Ghana Intellectual Property Office GIR Gross International Reserves GIS Ghana Immigration Service GITC Ghana International Trade Commission GKMA Greater Kumasi Metropolitan Area GMet Ghana Meteorological Services GMO Genetically Modified Organism GMRA Global Master Repurchase Agreement GMSLA Global Master Securities Lending Agreements GNGC Ghana National Gas Company GNPC Ghana National Petroleum Corporation GNPPO Ghana Nuclear Power Programme Organisation GoG Government of Ghana GPFs Ghana Petroleum Funds GPRTU Ghana Private Road Transport Union GPSNP Ghana Productive Safety-Net Project GPSRP Ghana Public Sector Reform Project GRA Gha