Government has been advised to slash salaries and other emoluments of its appointees to demonstrate commitment to reducing expenditure and improving the fiscal economy in this difficult time.

According to Senior Financial Analyst, Joe Jackson, this will send positive signals to investors that government is committed to addressing the challenges in the economy.

Government as part of measures to address the fiscal imbalance in the economy cut expenditure of its institutions including Ministries and Departments by 20%.

However, this did not satisfy some ratings agency including Moody’s, which consequently downgraded the country’s credit rating to Caa1, alternatively a ‘junk’ status.

Mr. Jackson who is also an Executive Director of Dalex Financial Services tells Joy Business government must do more to bring stability to the economy.

“To be honest with you, government officials salary do not add up that much more to our bill, but the fact that some people are being asked to bear the pain and some people are not; especially when those who are not bearing the pain are leaders, it is bad”.

“Government should cut spending on itself, so that it looks better all round. This will show that our leaders are committed to cutting expenditure”, he pointed.

Mr. Jackson however said the challenges within the Ghanaian economy is surmountable.

“The problems are not insurmountable. The problems can be resolved, but we need to get that way from the partisanship and say, let’s fix this.”