Government officials will not be able to buy foreign automobiles: For the rest of this year, Finance Minister Ken Ofori-Atta has placed a moratorium on government personnel purchasing foreign automobiles.
This instruction will go into effect immediately and will be in addition to the existing 20% spending cut targeted at stabilizing Ghana’s fiscal resources and sustaining the country’s debt.
The restriction on public officials purchasing vehicles “would affect all new orders, notably four-wheel drives,” according to Mr. Ofori-Atta.
Addressing the public on new steps taken to alleviate the country’s continuing economic woes, the Minister stated that the government will guarantee that its appointees’ purchases of foreign automobiles are reduced by 50%.
“With immediate effect, the government has put a ban on all overseas visits, with the exception of pre-approved statutory travels,” he said.
These actions are likely to help the country fulfill the 7.4 deficit target established for this year, among other things.
Meanwhile, the government has authorized a 30% pay cut for all Cabinet Ministers and leaders of State-Owned Enterprises, which would take effect in April 2022 and last until the end of the year.
The income collected from these donations, according to Mr. Ofori-Atta, will be placed into the Consolidated Fund.
“From April to December 2022, Cabinet agreed that Ministers and Heads of SOEs contribute 30% of their salary to the Consolidated Fund. We appreciate the Council of State’s leadership in applauding the government’s efforts on this initiative.
“In these times, energy resources must be used extremely efficiently. As a result, from February 1, 2022, all political appointees and leaders of government institutions, including SOEs, would receive a 50% reduction in gasoline coupon allocations.
“With immediate effect, the government has put a ban on all overseas travel, with the exception of pre-approved critical statutory travel. “Effective immediately, cut spending on all meetings and conferences by half,” he stated.
Many Ghanaians have expressed their dissatisfaction with how rising gasoline costs, transportation, and food expenses, and the devaluing cedi have increased their cost of living.
However, the Finance Minister has stated that the government would guarantee that the spending cuts promised are implemented effectively in order to boost the economy.
