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Full Statement of Measures by Government to Address Economic Difficulties

Accra, Ghana— On March 24, the finance minister of Ghana through a press conference announced some measures by the government to address the country’s economic crisis.

This action comes after several complaints from citizens on harsh economic conditions post COVID-19. For an economy that was barely recovering after the pandemic, the UKraine-Russia war further makes it difficult to stabilize the economy. This has resulted in hikes in the prices of goods and services, particularly fuel.

Among other things, the government is expected to cut 50% off the allocation of fuel coupons and cut down on all foreign travel for all government employees. Expenses on meetings & conferences are also expected to be halved. 

Further, the government has also resolved to cut 30% off in the salaries of all ministers and government appointees as well as impose a complete moratorium on the purchase of imported vehicles for the rest of the year.

Read the complete statement here.

 

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