President John Mahama has urged public sector institutions to cut their budgets to enable the government to gather enough resources for the benefit of all.

He stated that upon assuming office, he discovered that the Nana Akufo-Addo administration had poorly managed the economy over the years.

Read also: NPP gov’t “criminally mishandled” Ghana’s economy – Mahama

He said he is committed to doing his best to transform the system, with one of the approaches being the reduction of public expenditure.

"Cut expenditure as much as you can; we, as the government, will cut as much as we can because we must all make those sacrifices," he said.

He added, "It is said, 'let's create and share,' so let us begin preparing the meal now so we can share it once it's ready."

The President also emphasised that although he could choose to pretend that everything was fine with the economy, doing so would not benefit the people. "What effect will it have on Ghanaians if we behave like ostriches, bury our heads in the sand, and allow the economy to crash?" he questioned.

Mr Mahama made these remarks at the National Tripartite Committee meeting at the Ministry of Labour, Jobs, and Employment, where the government announced a 10% increase in the base pay for public sector workers, effective from January.

Read also: Gov’t increases base pay by 10% for public sector workers