Dr. Ashoung Says Ghana Should Be Ready To Face Massive Financial Crash

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Writer: Amenuwoo Walter


Ghana’s economy has been pounded as the covid-19 pandemic has caused agony beyond measures for the multitude hence the country is facing a massive financial crash.

This has made the financial ministry spew that from 2021 to 2024 employees of Public Sector Undertakings will not receiving huge salary increments.

The current advisor to the Ministry of Finance, Dr. Samuel Nii Noi Ashong says there’s a paucity of funds which the Ministry cannot approve any raise in the salaries of PSUs workers as money is being channeled to support other segments.

He stated that the pandemic is not expected to abate till the end of 2023 hence they are looking to tightening their belts for a while and it’s understandable that salary increments and compensations cannot be granted for the people.

According to him, if they net out all their mandated transfers which are required by law with regards to GETFund transfers, District Assembly Common Fund, and National Health Insurance the balance funds are not enough to take expenses especially on wages, social intervention programs, and goods and services.