President Akufo-Addo has emphasised that he and some of his appointees will continue to give out 30% of their salaries as a measure to help revive the economy.
Speaking to the current economic challenges, President Akufo-Addo on Sunday, October 30, 2022 indicated that Government is aiming to restore and sustain macroeconomic stability within the next three (3) to six (6) years, with a focus on ensuring debt sustainability to promote durable and inclusive growth while protecting the poor.
He stressed “We have decided to review the reforms in the energy sector, capping of statutory funds, implementation of the exemptions Act and a new property rate regime. We have decided also to continue with the policy of thirty percent (30%) cut in the salaries of political office holders including the President, Vice President, Ministers, Deputy Ministers, MMDCEs, and SOE appointees in 2023, just as we will continue with the thirty percent (30%) cut in discretionary expenditures of Ministries, Departments and Agencies”.
The president assured Government will review the standards required for imports into the country, prioritise the imports, as well as review the management of our foreign exchange reserves, in relation to imports of products such as rice, poultry, vegetable oil, tooth picks, pasta, fruit juice, bottled water and ceramic tiles, and others which, with intensified government support and that of the banking sector, can be manufactured and produced in sufficient quantities in Ghana.
“Government will, in May 2023, that is six (6) months from now, review the situation. We must, as a matter of urgent national security, reduce our dependence on imported goods, and enhance our self-reliance, as demanded by our overarching goal of creating a Ghana Beyond Aid” he stated.
The President again said “We are determined to restore stability to the economy, and provide relief. We are all in this together, and I am asking for your support to rescue Ghana from the throes of this economic crisis”.
Source: Mybrytnewsroom.com/Kwabena Nyarko Abronoma
