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Oil and the 2012 Budget Statement – Reflections on the Ghanaian Economy

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Budgets have become annual rituals and have defined the directions of the economy. It therefore does not evoke the level of interests it did in the past. However, the last two Budget Statements of the Government of Ghana have been significant for two reasons.

First, the introduction of oil revenues to the budget has raised expectations of Ghanaians for improvement in their living conditions and whether oil could provide that boost is a function of its management which the Budget has responsibility for.

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