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Reduce the size of your government - GPCC to Akufo-Addo.

Reduce the size of your government - GPCC to Akufo-Addo.
Apostle Eric Kwabena Nyamekye, second Vice President of the GPCC.

President Nana Addo Dankwa Akufo-Addo has been urged by the Ghana Charismatic and Pentecostal Council (GPCC) to implement effective austerity measures in order to salvage the economy.

The Council claims that cutting down on government spending and size may pull the country out of its present economic quagmire.

The GPCC further urged the government and other stakeholders to work together to create a national dialogue forum for ongoing discussions on important issues of national importance.

“Urgently downsize government machinery and cut down on expenditure to start building confidence about its commitment in solving our economic problems. From the Council’s perspective, it is important that the Government demonstrates a strong sense of burden-sharing to encourage key bondholders to fully accept the exchange voluntarily.

“This should include Government explicitly and verifiably cutting down on its expenditure, including reducing the size of the government, among other areas. This is very critical to encourage buy-in from the general public.”

The GPCC urged the government to take steps to prevent the Domestic Debt Exchange from destroying the banking industry.

“Whatever form the DDEP takes, Government should ensure that the financial sector, which is a key pillar of growth for the economy, is not destroyed in the process of the debt exchange.”

“The Council acknowledges the setting up of the financial sector stability fund, as a measure to provide support to the financial sector, but the Council expects to see a clear demonstration that the facility is fully funded for implementation, in order to provide full assurance to the financial sector and the banking community.”

The National Democratic Congress, an opposition party, and several civil society organisations have also urged the government to reduce its size in order to save costs. The GPCC has now made a similar plea.

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Ghanaians expect better socio-economic conditions in 2023.

Source: HR Forum News

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