An Economist and a Chartered banker Mr. Prince Obiri Yeboah has said that Ghanaians have a better understanding and are suffering more than what is in the world bank report that states that in 2022 inflation propelled 850,000 Ghanaians into poverty.
Speaking to Ohene Kinnah on Plan B FMs EBAANOSEN, Mr Obiri Yeboah stressed that, poverty is on the rise in the country because of the poor implementation of our laws,
“Our labor law states that a worker is supposed to earn at least ¢22 cedis daily to survive but most of them earned below such amount which is contributing to the high poverty rate in the country”.
Mr Obiri Yeboah has said, the government trying to do something to bring some relief to the citizens but the procedure is worsening the plight of Ghanaians and one of them is IMF conditionalities which is preventing the government from employing people in the public sector resulting into high unemployment rate in the country leading to poverty.
He said Government should also minimize the taxes on the private sector to enable them to employ more people because the private is now the employment hub for the youth.
The Economist believes that if the government could scrap some of its manifesto promises like teacher trainee allowance because it has lost its relevance and doing this would bring relief to the government and citizens as a whole.
In other words, the World Bank has projected that some 850,000 Ghanaians were pushed into poverty in 2022 due to the rise in inflation.
Ghana’s inflation soared to a 30-year high in 2022, peaking at 54.1% in December 2022.
But accessing the impact of soaring inflation on food security and poverty the world bank says it works with the Ghana Statistical Service has disclosed 850,000 people were pushed down the poverty line.
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