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Posted On

24
March
2022

President Akufo-Addo Approves 30% Salary Cut For Govt Appointees to mitigate economic hardship

Ghana President Nana Akufo-Addo has approved a 30% cut on the salaries of government appointees.

He also provided explanation for that in a statement issued by the Ministry of Information.

In a tweet on Wednesday, the Ghana presidency listed 4 measures geared towards mitigating hardships in the Ghanaian economy.

They are as follows: “Cabinet agrees border reopening within 2 weeks; Government cuts salaries of appointees by up to 30%, Policy rate increased substantially to 17%; cost of loans to go up and Government to pump $2bn to rescue cedi.”

Explaining his decision, the Ghana Federal Ministry of Information, explained in a letter that the president acted that way so as to provide economic relief for the people, among other things.

The letter partly reads:

“In addition to the scheduled appraisal of the performance of Government programs, cabinet also extensively discussed the impact of global economic difficulties on Ghana and the Ghanaian people.

“President Nana Addo Dankwa Akufo-Addo approved a number of far-reaching measures aimed at mitigating the depreciation of the Cedi, ensuring expenditure discipline, and providing relief in the face of global fuel price hikes and inflation well as ensuring that priority programs meant to grow the economy are protected.”

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