President Akufo-Addo has disclosed that the Finance Minister, Ken Ofori-Atta, announce what he described as “difficult decisions” that his administration has taken to help cushion Ghanaians during these difficult economic times the country and the world finds itself, on Thursday 24 March 2022.
The President Akufo-Addo made the disclosure in his opening remarks before moving into a closed-door meeting with the Council of State at the Jubilee House yesterday, Tuesday 22 March 2022.
“It is no secret that our economy is going through difficult times. It is also no secret that we are not alone in that exercise and that many of the phenomenon we are facing are phenomenon that are apparent in many other parts of the World as well,” President Akufo-Addo said when he addressed the Council of State.
In spite of this, President Akufo-Addo said government must not be seen to be “impotent in trying to find solutions” to the challenges.
The decision taken by him and his cabinet at their recent retreat at Peduase Lodge, “was that the Minister for Finance” on his [the President] instruments is going to have a major engagement with the nation on Thursday, where he is going to be in the position to lay out specifically, the measures that we [government] intend to take to as it were”, put thing right.
“They are difficult decisions, but then, the times call for difficult decisions” President Akufo-Addo said.
Chairman of the Council of State, Nana Otuo Siriboe, in his remarks indicated that the Council was well aware of the prevailing economic challenges and to that end, the Constitutional body has decided to support government’s efforts by cutting down their monthly benefits by 20% from now till the end of the year 2022.
“You and your cabinet have decided to reduce some of your emoluments or allowances. Mr President, in tandem with your decision, we as the Council of State has also decided that we will reduce our monthly allowances by 20% until the end of this year,” the Chairman of the Council of State, Nana Otuo Siriboe said.
“This will be contributing our widow’s might to total efforts at economic recovery. We hope that this small gesture will be emulated by other organs of government or the State,” he added.