You are here: HomeNews2021 10 19Article 1383064

General News of Tuesday, 19 October 2021

Source: happyghana.com

Ofori-Atta’s speech at UPSA Graduation an admission of failure – NDC man

Ken Ofori-Atta, Finance Minister Ken Ofori-Atta, Finance Minister

Communication Team Member of the National Democratic Congress (NDC), Lawyer Kojo Mensah has stated that Ghana’s Finance Minister, Ken Ofori-Atta for the first time has been honest with the Ghanaian populace.

He noted that the Finance Minister speaking the truth and admitting the economy is on a downward trend is an indictment on his person and office.

“For the first time I have seen the Finance Minister speak the truth and he admitted the economy is in a poor state with 60 percent of our revenue being used to pay government workers and I respect him for that.

"But he should have resigned after saying that. It is an admission of failure on his part for having run the economy for 5 years and using 60 percent of the revenue generated from the country to pay salaries.”

The politician went on to allege that more than 60 percent of the country’s revenue goes towards the payment of salaries and other costs.

“Our salaries, loans and interests payment take over 80 percent of our revenue,” he said in a panel discussion on the Epa Hoa Daben political talk show hosted by Don Kwabena Prah.

The Finance Minister, Ken Ofori-Atta, has urged fresh graduates from the various tertiary institutions to find innovative ways of becoming entrepreneurs.

According to him, that is the only way the rising unemployment rate in the country can be reduced.

He said it will help reduce the over-reliance on the government for jobs, and also reduce the burden on the government’s payroll.

Speaking at a graduation ceremony at the University of Professional Studies, Accra (UPSA), Mr. Ofori-Atta explained that 60% of Ghana’s revenue is spent every month on the payment of salaries of public sector workers.

“That payroll is full because we are spending some 60% of our revenue on remunerating some 650,000 people. That is not sustainable.”

He told the graduating students, “You have the skill set to be able to do what you have to do. Our responsibility as a government is to create the environment and the macro stability, currency stability and ensure that you have access to the relevant skills and financing.”

Join our Newsletter