The country in recent times has landed itself in an economic downturn.
Presently, the country’s inflation stands at 54.1 percent, the cedi is currently appreciating against the major foreign currencies after a free fall in December last year.
Generally, there is a high cost of living.
The government is currently seeking a bailout from the International Monetary Fund.
Meanwhile, to sustain the country’s debts, government introduced a debt exchange programme, which has been widely rejected.
Why Ghana is in economic mess
Find the 7 reasons below:
- 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!
- This government has over 1,000 presidential staffers paid as article 71 officeholders at the Jubilee House!
- They’ve also appointed so many special assistants to ministers with emoluments close to that of deputy ministers at the various MDAs.
Take also into consideration:
- The number of spokespersons at various MDAs paid above the pay of Directors!
- The number of CEOs at various State-owned Enterprises (SOEs) and their pay packages! Many of these SOEs now employ 3 or 4 deputy CEOs with fat conditions of service!
- 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
- 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!