An Economist, Dr. Sidi Ali has disclosed that the country is in a serious economic crisis which has resulted in continuous borrowing by the government.
He emphasized that the number of taxes being introduced by the government is frightening stressing that the government has now taxed VAT on electricity bills for residential usage which was previously charged on commercial and industrial usage with no increase in monthly salaries of the working population.
He said the Bank of Ghana would have been closed down by now if it was commercial or any other universal bank due to the huge amount of money it owes underscoring that we are not doing anything to improve the economy because the stabilize of the cedi is a result of our inability to pay our debts as a nation.
Dr. Sidi Ali added that the cost of living in the country must be moderate for people to be able to stay without having a strong feeling about the hardship in the country stressing that prices of food and lorry fare must be reduced because the increase in prices of food and lorry fare mostly affect everybody hence affecting cost of living.
He finally indicated that the government needs to be highly prepared to welcome labor unrest and agitations as a series of working populations in the country are poised to embark on strikes and other agitations in demand of their salaries, allowances, and other conditions of services due to them.
Source:Mybrytfmonline.com/Kwaku Mensah Abrampa
