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
-
52 foreign nationals arrested in Northern Region over human trafficking, cybercrime
2 hours -
Kofi Kyereh returns to Freiburg training after almost 3 years out
2 hours -
US Embassy to launch FIFA Pass visa system for World Cup travelers
2 hours -
13 sex workers arrested in Tamale made to clean market as a deterrent
2 hours -
Prof Andrew Owusu unanimously elected to represent Africa on World Olympians Association leadership
3 hours -
GPRTU arrest: ‘Not belonging to a union is not a crime’ – Martin Kpebu
4 hours -
Ibrahim Sulemana completes loan return to Cagliari
4 hours -
Prejudicial remarks against Ofori-Atta shameful, hypocritical – Frank Davies
4 hours -
No law allows GPRTU to arrest drivers over fare disputes – Kennedy Osei Nyarko
4 hours -
Update: Fire at Madina Zongo Junction successfully contained
4 hours -
A Closer Look at a 21-Day Religious Fast
5 hours -
NPP’s Osei Nyarko condemns ‘high-handedness’ in crackdown on driver overcharging
5 hours -
Gwollu, Resistance, and Renewal: The living legacy of the Tanjia Musa Fire Festival
5 hours -
Ofori-Atta isn’t scared of criminal prosecution, he will come at the right time – Frank Davies
5 hours -
Firefighters battle blaze at Madina Market
5 hours
