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Business News of Friday, 21 February 2025

    

Source: www.ghanawebbers.com

Amin Adam to Mahama: How could a “criminally mishandled” economy increase base pay for workers by 30% in 2023?

Former Finance Minister Dr. Mohammed Amin Adam Former Finance Minister Dr. Mohammed Amin Adam

Former Finance Minister Dr. Mohammed Amin Adam has challenged President Mahama’s assertion that the previous government “criminally mishandled” the economy.

In a Facebook post, he questioned how an economy described as mismanaged could afford substantial public sector salary increases—30% in 2023, 23% in early 2024, and 25% later in 2024 while still posting decent fiscal deficits.

He also asked what changed between December 2024 and February 2025 that now limits adjustments to just a 10% increase.

Meanwhile, President Mahama, speaking to organized labor on February 20, criticized the previous administration’s reckless fiscal management and stressed the need for tighter expenditure.

His government has approved a 10% salary increase for public sector workers effective January 1 and a 10% rise in the national minimum wage to 19.97 Cedis starting March 1, 2025.