Osafo-Maafo chairs meeting of six ministers to assess impact of economic mitigation measures

The Senior Advisor to the President, Yaw Osafo-Maafo, is chairing a meeting of six ministers who largely represent the real sector of the economy, from today, Monday June 27 to Wednesday June 29, to assess the impact of the economic mitigation measures announced in March this year.

Some 13-point measures were announced to cushion consumers against the cost of fuel, reduce government expenditure and ramp up revenue.

But the economic hardship has persisted even after the measures were announced.

Information Minister Kojo Oppong Nkrumah told journalists on Sunday June 26 that the meetings will enable the ministers to assess the impact of the measures, in anticipation of a mid-year Cabinet review, which should inform the mid year budget review.

The ministers expected to participate in the engagements are those of Food and Agriculture, Dr Owusu Afriyie Akoto; Transport, Kwaku Ofori Asiamah; Local Government, Decentralisation and Rural Development, Dan Kwaku Botwe; and caretaker Minister for Gender, Children and Social Protection, Cecilia Abena Dapaah.

The rest are Trade and Industry, Alan Kyerematen, and Information, Kojo Oppong Nkrumah.

It is recalled that the Finance Minister Ken Ofori-Atta earlier announced some measures introduced by the government to deal with the impact of the virus.

He announced on Thursday March 24, the government had imposed a complete moratorium on the purchase of imported vehicles for the rest of the year.

“With immediate effect, Government has imposed a complete moratorium on the purchase of imported vehicles for the rest of the year. This will affect all new orders, especially 4-wheel drives. We will ensure that the overall effect is to reduce total vehicle purchases by the public sector by at least 50 percent for the period,” he said.

“Again, with immediate effect Government has imposed a moratorium on all foreign travels, except pre-approved critical/statutory travels; Government will conclude on-going measures to eliminate “ghost” workers from the Government payroll by end December 2022;

“Discretionary spending is to be further cut by an additional 10%. The Ministry of Finance is currently meeting with MDAs to review their spending plans for the rest of the three (3) quarters to achieve the discretionary expenditure cuts; ii. these times call for very efficient use of energy resources.

“In line with this, there will be a 50% cut in fuel coupon allocations for all political appointees and Heads of government institutions, including SOEs, effective 1st April 2022,” he added.

Source: 3news.com|Ghana