The Ghanaian government has announced a 30 percent salary
cut for its appointees.
This is one of the measures introduced by the government to
mitigate economic hardship in the country.
The presidency disclosed this on Twitter on Wednesday, adding that all measures have been approved by Ghanaian President Nana Akufo-Addo.
MEASURES TO MITIGATE HARDSHIPS IN THE ECONOMY.#BouncingBackTogether#BuildingGhanaTogether pic.twitter.com/DDICjqxj2o
— Ghana Presidency (@GhanaPresidency) March 23, 2022
Other measures include the reopening of land borders in two weeks.
They have remained shut since the start of the COVID-19
pandemic in 2020.
Ghana’s central bank also raised policy rate by 250 basis
points to 17 percent; this means the cost of borrowing will shoot up.
Additionally, the government is going to pump $2 billion
into the economy to help stabilise the cedi (Ghana’s currency) which has been
falling in value to the dollar and other international currencies of trade for
the past few months.
Ken Ofori-Atta, Ghana’s finance minister, is expected to
address and explain in detail the measures tailored to mitigate the current
economic challenges and other issues on Thursday.
Ghana’s council of state has also decided to reduce members’
monthly allowances by 20 percent for the rest of this year.
Nana Otuo Serebour II, chairman of the council of state, said: “This move is our way of contributing our widow’s efforts towards economic recovery.”
Click to signup for FREE news updates, latest information and hottest gists everydayAdvertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com