General News of Wednesday, 23 March 2022
Source: www.ghanaweb.live
2022-03-23Akufo-Addo, ministers to cut some emoluments and allowances – Council of State Chairman
President Akufo-Addo
Government holds quarterly retreat over economic challenges
Council of State members slash allowances by 20% till end of year
Ghanaians lament rising cost of living
Chairman of the Council of State, Nana Otuo Siriboe II, has disclosed that President Nana Addo Dankwa Akufo-Addo and members of his cabinet
Read full articlehave agreed to a reduction in their emoluments and allowances.
According to him, the move is part of their recognition of the economic difficulties the country is facing and is their contribution towards easing the situation.
Nana Otuo Siriboe II also mentioned that the Council of State members have decided to reduce their monthly allowances by 20 percent until the end of the year in view of the economic challenges.
He made the pronouncements when he held a meeting with the President at the Jubilee House on Tuesday, March 22.
“Mr. President, over the past few weeks, the Council has been deliberating on the current economic conditions of the country and have been collecting views with the view to sharing with you as early as possible.
“As we were going through our routines, you and your cabinet were at a retreat over the same issues. Since yesterday, we have been fed with a snippet of information regarding some of the decisions that you have made.
“We are particularly delighted to read that you and your cabinet have decided to reduce some of your emoluments and your allowances. Mr President, in tandem with your decision we as Council of State had also decided that we will reduce our monthly allowances by 20 percent until the end of this year,” Nana Otuo Siriboe said.
The economy in recent times has witnessed a downward spiral.
Many economists have cited the depreciating cedi, increase in fuel prices and general cost of living as pointers to this claim.
Some analysts have asked the government to seek an IMF bailout programme, even though that idea has been shot down as government banks its revenue generation hopes on the E-Levy.
The President, Nana Addo Dankwa Akufo-Addo, over the weekend held a crunch meeting with key members of his government to decide on ways to mitigate the current economic challenges.
Finance Minister, Ken Ofori-Atta is to address the nation on Thursday on the outcome of the meeting.
