Just as Ghanains annoyance over President John Mahama’s suggestion that those ‘who are not feeling the economy’s prosperity lack skills’ is almost dying down, the president is here again with those smooth and sweet promises…
President John Mahama has assured workers of an improvement in their finances beginning 2017. This he said in view of the belief that the economy will become buoyant by then.
Mr President made this statements while speaking in an interview with Brong Ahafo Radio Thursday, during his ‘Accounting to the People Tour’ in the region. President John Mahama, in the interview indicated that his administration’s hard work will pay off when the economy takes off next year.
His comments provide an expo into his May Day (Workers’ Day) speech coming up on the 1st of May, where the President is expected to address workers’ cahllenges in relation to the current condition of the economy.
Labour have been quick to point out that increases in utility tariffs have gone up by 182.75% since 2013 and water has seen a 144.84% jump within the same period.
A deregulated petroleum sector has also witnessed worrisome increases in transport fares over these periods.
Meanwhile, we will not be reluctant to point out that the public sector workers have had their basic salaries increased by 13% in January 2015.
While commending workers for their solidarity and cooperation with the government, President Mahama asked them to expect their “fair share” of an improved economy. The President admitted that workers faced economic difficulties because of factors such as high inflation and interest rates. According to him, “Inflation has started slowing and we expect that by the end of the year, it will come down from 18% to about 12% or 13% and next year, we expect it to go into a single digit.”
From a 19% high in January 2016, government has targeted that inflation would go down to about 10% by the end of the year. Making reference to 2012 when a similar feat was achieved, the President explained that single digit will once again be achieved in 2017.
Moreover, the President wants Ghanaians to find assurance in an IMF prediction that Ghana’s economy will experience “phenomenal growth”. The International Monetary Fund (IMF) has predicted that slow growths of 3.4% in 2015, an expected 3.3% in 2016 could leap to 6% in 2017.
Seeing that the coming year looks promising for workers, government hopes to do all it could to keep within its public expenditure targets, even in an election year where political expediency threaten sound economic policy.