Members of the Council of State have announced their decision to cut their monthly allowances by 20% till the end of the year.
The Council said the move forms part of their contribution to addressing the economic challenges confronting Ghana.
Speaking at the Jubilee House, Chairman of the Council, Nana Otuo Serebour II, said, “We have decided to reduce our monthly allowances by 20% to the end of this year. This move is our way of contributing our widow’s to efforts towards economic recovery.”
President on his part said the economic challenges were not unique to Ghana as the globe was encountering financial crisis.
He posited that his administration will announce some measures this week to revive the economy.
He says the problem was not limited to Ghana since other countries are also facing similar challenges.
He has therefore assured Ghanaians that his government has what it takes to manage the situation.
Addressing a meeting with the Council of State at the Jubilee House on Tuesday, despite the challenge, his administration was prepared to address the situation since it can not be an excuse.
“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. The phenomenon that we’re facing, applies to many parts of the world as well. But that doesn’t, therefore, mean that government is impotent in trying to find solutions.
Government is not impotent in dealing with current economic challenges – Akufo-Addo
Our retreat which you referred to, is in some way quite timely, because as a general rule, we have retreats each year on a quarterly basis, and this is the first one for this year. Fortunately for us, it coincided with these difficulties and the public anxiety about the way that the economy was going. It gave us, therefore, the opportunity of the three days to look at depth, where the economy was headed, and what measures were necessary to be taken”, President Akufo-Addo stated.