Home Economy 7 Reasons Ghana’s Economy Is In Shambles – Ato Forson

7 Reasons Ghana’s Economy Is In Shambles – Ato Forson

by Vesta Daily
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7 Reasons Ghana's Economy Is In Shambles - Ato Forson

The country’s inflation rate is currently 54.1 percent, and the cedi is struggling against the major foreign currencies following a free fall in December of last year.

In general, the cost of living is high.

Currently, the government is requesting a bailout from the International Monetary Fund.

Meanwhile, the government introduced a debt exchange program to sustain the country’s debts, which was widely rejected.

Dr Cassiel Ato Forson, the Ranking Member of Parliament’s Finance Committee, enumerated reasons why he believes the country “got into this economic mess” in a Facebook post on Saturday.

Find the 7 reasons below:

1. The NPP has the largest size of government in the history of Ghana! Find out how many ministers they’ve appointed from 2017. At one point, they had over 125 ministers!

2. This government has over 1,000 presidential staffers paid as article 71 officeholders at the jubilee House!

3. They’ve also appointed soo many special assistants to ministers with emoluments close to that of deputy ministers at the various MDAs.

Take also into consideration:

4. The number of spokespersons at various MDAs paid above the pay of Directors!

5. The number of CEOs at various State-owned Enterprises (SOEs) and their pay packages! Many of these SOEs now employ three or four deputy CEOs with fat conditions of service!

6. The impact of the Over 50 new agencies with zero output, eg. CODA, NADA, MBDA, free SHS secretariat, 1D1F secretariat, Petroleum Hub Development Authority, Ghana cares Secretariat, etc.

7. The unconscionable decision to send over 100 Databank staff to the Finance Ministry as special assistants and paid as customs commissioners on GRA’s payroll!

Vesta Daily
Author: Vesta Daily

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