Politics

Government maintains salary cuts for all appointees as part of measures to resuscitate economy – Akufo-Addo

President Akufo-Addo has outlined strategic decisions that his government has taken to resuscitate the country’s ailing economy.

Addressing the nation on the state of the economy on Sunday, the President noted that in the just ended Cabinet retreat at Peduase Lodge, his administration agreed to maintain the 30 per cent salary cut of all government appointees.

“We have decided also to continue with the policy of thirty percent (30%) cut in the salaries of political office holders including the President, Vice President, Ministers, Deputy Ministers, MMDCEs, and SOE appointees in 2023, just as we will continue with the thirty percent (30%) cut in discretionary expenditures of Ministries, Departments and Agencies.”

He further noted that to restore and sustain debt sustainability, government is seeking to reduce the total public debt to GDP ratio to 55% in present value terms by 2028.

“With the servicing of our external debt pegged at not more than eighteen percent (18%) of our annual revenue also by 2028,” he stated.

SourceAma Cromwell 

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