Former President John Dramani Mahama has opined that the reckless spending by the Nana Addo-led government has led to the planned employment freeze in 2023.
Speaking at the 13th Congregation of the Accra Business School on Saturday, Mr. Mahama posited that graduates must consider entrepreneurship or look to the private sector for employment since the country would face a serious crisis in the years ahead.
“Unfortunately, parastatals that were thriving a few years ago have been run into the ground by political appointees who have mismanaged the affairs of the state-owned enterprises. These constraints further the ability of the public sector to employ.
“Let me put our situation in a better context. Compensation cost for 2022 was estimated at 55.3 percent of tax revenue, which means off all the taxes we collect we spend 55.3 percent to pay wages and salaries for the public sector alone, amortisation and interest payments consumed the rest of our taxes,” the former president said.
He said the “situation has compelled the government this year to announce a freeze or a ban on public-sector employment. This makes the situation rather dire for you…unfortunately due to mismanagement and reckless expenditure by the government over the last five years, the private business environment is also in a very poor state today.”
By: Rainbowradioonline.com/Ghana
