Your measures aren’t enough to tackle the challenges – Ricketts-Hagan tells Ofori-Atta

Kweku George Ricketts-Hagan, a former Deputy Finance Minister, has stated that the measures announced by Finance Minister Ken Ofori Atta to address the difficulties are insufficient.

“If you look at our debt and a number of other metrics, you’ll see that the way our economy is constructed is a contributing factor.”

“Then there’s the other part, which has to do with how we run the economy.” When your fundamentals are not good, you will be exposed,” the former Cape Coast South Member of Parliament stated on Saturday March 26 on Key Points with Dzifa Bampoh.

On Thursday, March 24, Mr. Ofori-Atta said that the government has placed a complete moratorium on the purchase of imported vehicles for the rest of the year, effective immediately.

He claims that this will have an impact on all new orders, particularly 4-wheel drives.

“For the rest of the year, the government has imposed a complete prohibition on the purchase of imported vehicles.” This will have an impact on all new orders, particularly 4-wheel drives. “We will ensure that the overall effect is a reduction of at least 50% in total vehicle purchases by the public sector over the term,” he stated.

“Again, with immediate effect, the government has imposed a moratorium on all foreign travel, with the exception of pre-approved critical/statutory travel; by the end of December 2022, the government will have completed ongoing procedures to eliminate “ghost” workers from the government payroll;

“Discretionary spending will be lowered by another 10%.” The Ministry of Finance is currently engaging with MDAs to assess their spending plans for the remaining three (3) quarters in order to achieve the discretionary expenditure cutbacks; ii. these times demand that energy resources be used efficiently.

“In line with this, from April 1, 2022, all political appointees and heads of government institutions, including SOEs, would receive a 50% reduction in gasoline coupon allocations,” he added.