Functions - Real Sector Division

MOF Objective I: Strengthen economic policy and management to ensure synergetic development of strategic sectors
 

RSD’s functions:

  1. Ensure effective linkage between Ghana’s medium-to-long-term development plan and the Annual budget;
  2. Guide sector policies towards the desired growth path of the economy;
  3. Undertake policy analysis and set sustainable targets for the relevant sectors of the economy consistent with the target growth rate for the economy;
  4. Identify bottlenecks affecting the growth of sectors and propose corrective measures;
  5. Propose policies/initiatives that will support the attainment of sector targets; and
  6. Facilitate the mainstreaming of climate change issues into national budgeting to promote sustainable development; and to mobilize resources for implementation of climate change and green economy policies, programmes and projects in the country.
     

MOF Objective II: Formulate and implement sound economic policies
 

RSD’s functions:

  1. Ensure compliance with the Petroleum Revenue Management Act, 2011 (Act 815), as amended by:
    • Projecting the petroleum Benchmark Revenue on an annual basis;
    • Writing and publishing the Annual Report on the Petroleum Funds as well as the Reconciliation Report on the Petroleum Holding Fund;
    • Publishing the quarterly petroleum receipts; and
    • Accounting for the use of petroleum revenues.
  2. Monitor the implementation of poverty reducing and income distribution policies;
  3. Monitor and evaluate the performance of key sectors of the economy to ensure policy effectiveness;
  4. Write policy briefs on topical issues in the economy; and
  5. Advise the Minister/Management on issues and policies related to key sectors of the economy for effective policy formulation.
     

Units

  1. Agriculture and Agribusiness Unit;
  2. Industry Unit;
  3. Knowledge Economy and Services Unit;
  4. Energy, Oil and Gas Unit;
  5. Natural Resources, Environment and Climate Change Unit; and
  6. Social Sector Unit.
     

Secretariats

  1. Natural Resources and Environmental Governance (NREG/EITI) Secretariat; and
  2. National Designated Authority (Focal Point) of the Green Climate Fund.
     

Mandate of NREC:

The Unit oversees, coordinates and manages financing of and support to natural resources, and climate change and green economy activities.

Further, the Unit is established to coordinate all forms of support (domestic and international) to climate-change-related activities in Ghana. This is to avoid potential overlaps and potential duplication of efforts and above all to distribute resources to where they are most needed.

The Unit also facilitates the mainstreaming of climate change and green economy issues into national planning to promote sustainable development.

 

NREC Function and Responsibilities:

  • Advice on climate change and green economy issues and policies.
  • Collaborate effectively with relevant stakeholders for the development and implementation of climate change, green economy and environmental policies, programmes and projects in the country.
  • Facilitate the process of climate and green sensitive budgeting that promotes transparency and accountability in public finance management
  • Monitor and analyze budget performance of MDAs in respect of climate change and green economy  programmes and or projects.
  • Track and build a database of climate funds disbursed by Development Partners (DPs) and other sources and received by MDAs/MMDAs to be reported to the UNFCCC during the annual Conference of Parties (COPs).
  • Collaborate with relevant stakeholders in resource mobilization for implementation of climate change and green economy policies, programmes and projects in the country.
  • Serve as a frontier for managing both domestic and international climate change assistance.
  • Assist with the development of policies and reforms that promote transparency and accountability in natural resource governance or management