Audio By Carbonatix
Running mate for New Patriotic Party (NPP) flagbearer Nana Addo Dankwa Akufo-Addo Dr Mamudu Bawumiah says the increment in government wage bill was anticipated by the Kufuor administration when it introduced the SSSS shortly before they exited power.
Dr Bawumiah said it was not surprising that the wage bill had doubled from Ghc 2.4 billion to Ghc 4.8 billion as President Mills announced in Sunyani at a Parade to commemorate the May Day celebrations Tuesday.
He noted that prior to the introduction of the SSSS, the NPP administration had moved the economy from HIPIC to a middle income economy, and knew the new pay policy would absorb the wage bill.
Dr. Bawumiah noted in an interview on Adom Fm’s Dwaso Nsem on Wednesday, prior to his speech on the “State of the economy” at the Ferdinand Ofori Ayim Memorial Lectures in Accra, that vigorous efforts needed to be made to transform the economy from what he termed a “Guggisberg economy” into a manufacturing economy.
The former Deputy Governor of Bank of Ghana said this is the sure way of helping local businesses to expand and create jobs.
“If the economic indicators are so unprecedented, then why are exchange rates falling like a brick?”, he asked.
He stated that government's failure to create jobs has resulted in the rise of youth unemployment.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
BoG warns bank staff against collusion in collateral fraud
3 minutes -
Ghana National Research Fund must drive job creation and national solutions – Mahama
6 minutes -
Maverick Research appoints former NielsenIQ executive Justin Sargent as strategic advisor
9 minutes -
New Zoomlion MD pays courtesy call on Nungua Mantse, seeks traditional blessings for his tenure
10 minutes -
Stonebwoy delivers spectacular performance as WatsUp On Campus makes a stop at UniMAC
11 minutes -
Mahama says Ghana National Research Fund was Atta Mills’ vision
12 minutes -
Asokore Mampong Assembly deploys emergency team to curb flood-related deaths
16 minutes -
Ghana challenges Partey’s visa denial in court
17 minutes -
Why Ghanaian woman refuses to leave South Africa even after becoming homeless
17 minutes -
2026 World Cup: Black Stars arrive in Toronto ahead of opener against Panama
21 minutes -
Minority accuses government of ‘create, loot and share’ plot over Afari Hospital funding
23 minutes -
Mahama releases GH¢100m to Ghana National Research Fund
25 minutes -
Gomoa Dabenyi under siege by cobras, robbers amid prolonged power outage
25 minutes -
Ghana’s Tax-to-GDP ratio improves to 14% in 2025 – Deputy Finance Minister
30 minutes -
Prosecution witness alleges Chairman Wontumi ordered mining in protected Tano Nimiri Forest Reserve
1 hour