Accra, Jan. 14, 2023 – The Ghanaian government has agreed with trade unions to increase the salaries of all public servants by 30 per cent from 2023.
This was disclosed in a joint statement as Ghana struggles to reduce debt and tackle rampant inflation.
Cedi, the Ghanaian currency, dropped heavily against the US dollar last year as government spending cuts and central bank interest rate hikes failed to tame the spiraling inflation which had risen to a new high of 54 per cent last month.
It was gathered that trade unions, who represent public servants, started negotiating salary increases with the government in November with the two parties settling on a 30 per cent increase across board on Thursday, effective from January 1, 2023.
The negotiations started a few months ago after hardship spurred street protests that pushed the government to seek help from the International Monetary Fund.
In March of 2022, Ghana announced spending cuts which included lowering of ministers’ salaries.
Ghana is battling its worst economic crisis in a generation, with inflation hovering at a record 50.3 per cent, the highest in 21 years. (GBN)
