Ghanaian President, Ministers Slash Salaries By 30% To Reduce Government Spending
Ghanaian President Nana Akufo-Addo and his ministers have cut their salaries
by 30 percent under measures to reduce spending as the country struggles with
higher fuel costs from the Ukraine crisis and stalled progress on a new tax,
the government said on Thursday.
Finance Minister Ken Ofori-Atta announced that foreign travel by government appointees, except for critical missions, and the purchase of imported vehicles had been suspended with immediate effect.
He said the government hoped to save around $400 million through the measures.
Global fuel prices have hit all-time highs because of the Russia-Ukraine war, driving up costs of living and transport in a way that has hit West African countries like Ghana hard.
Ghana’s government is also struggling to raise domestic revenue as gridlock in parliament since last year has stalled the passage of a controversial 1.75-percent E-Levy tax aimed at bringing in additional funds.
“It is important to stress, right from the onset, that the difficulties we are facing in Ghana are not peculiar to Ghana,” the minister’s statement said.
“Governments in both developed and developing countries are busily coming out with various prescriptions to bring their economies back on track, after the devastating impact of Covid-19 which distorted global supply chains, and the ongoing Russia-Ukraine war.”
Finance Minister Ken Ofori-Atta announced that foreign travel by government appointees, except for critical missions, and the purchase of imported vehicles had been suspended with immediate effect.
He said the government hoped to save around $400 million through the measures.
Global fuel prices have hit all-time highs because of the Russia-Ukraine war, driving up costs of living and transport in a way that has hit West African countries like Ghana hard.
Ghana’s government is also struggling to raise domestic revenue as gridlock in parliament since last year has stalled the passage of a controversial 1.75-percent E-Levy tax aimed at bringing in additional funds.
“It is important to stress, right from the onset, that the difficulties we are facing in Ghana are not peculiar to Ghana,” the minister’s statement said.
“Governments in both developed and developing countries are busily coming out with various prescriptions to bring their economies back on track, after the devastating impact of Covid-19 which distorted global supply chains, and the ongoing Russia-Ukraine war.”
Can Nigeria do this?
ReplyDeleteGHANA
ReplyDeleteVS
SALARY CUT 30 %
NOT A SOLUTION
CORRUPTION
If you cut 30 % of the salaries of public officials you fuel corruption therefore cutting salary has not resolved the national identified problems
Then what's the solution ?
Workforce
Reduced
Increase salaries of the public workforce and retrain workforce to transition to private sector
Public
Vs
Private sectors
Provide loan platforms in all the local areas for feed the nation initiative to make food available and for the export market to kill corruption which is the major problem.
Home ownership
Introduce construction
Create affordable home ownership program and make private sector attractive for investors to distribute wealth.
Stop corruption and not fuel it
The voice Nigerian American