President Nana Addo Dankwa Akufo-Addo has reduced the salaries of all his appointees by up to 30 percent.
This is one of the measures introduced by the government to deal with the economic problems facing the country at the moment, the Presidency said.
The President assured the nation that the Minister of Finance Ken Ofori Atta will be announcing the measures that have been taken by the government to tackle the economic challenges facing the country at the moment.
Mr Akufo-Addo said this during a meeting with Council of State members at the Jubilee House in Accra on Tuesday March 22.
He said “The Minister for Finance is going to have major engagement with the nation on Thursday where he is going to be in the position to lay out specifically the measures that we have taken or we intend to take to correct or put the ship of sail better.”
Mr Akufo-Addo further observed that the challenges that are facing Ghana are similar to those pertaining in many countries around the world.
He noted that it is no secret that Ghana is going through economic turbulence.
He said the government has the ability of finding solutions to the challenges.
“It is no secret that our economy is going through difficult times. It is also no secret that we are not alone in that exercise. The many of the phenomena that we are facing are phenomena that are apparent in many other parts of the world but that doesn’t therefore mean that government is impotent in trying to find solutions,” the President said.
On Monday March 21, the Ministry of Information announced that the just-ended Cabinet retreat held between Thursday, March 17 and Sunday, March 20 has seen tough decisions approved by President Nana Addo Dankwa Akufo-Addo.
The decisions are set to be announced by the Minister of Finance later this week after meeting key social and economic stakeholders.
They are to ensure a turnaround for the economy.
Among the decisions is President Akufo-Addo approving 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 as well as ensuring that priority programmes meant to grow he economy are protected, the Ministry said in a press release.
