{"id":169477,"date":"2024-04-08T12:50:28","date_gmt":"2024-04-08T12:50:28","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/04\/08\/cut-expenditure-by-30-to-fight-inflationary-pressures\/"},"modified":"2024-04-08T12:50:28","modified_gmt":"2024-04-08T12:50:28","slug":"cut-expenditure-by-30-to-fight-inflationary-pressures","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/04\/08\/cut-expenditure-by-30-to-fight-inflationary-pressures\/","title":{"rendered":"Cut expenditure by 30% to fight inflationary pressures"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Banking Consultant Dr Richmond Atuahene and Data and Research Analyst Isaac Kofi Agyei have admonished the government to cut its expenditure by 30 per cent to effectively combat inflationary pressures.<\/p>\n<p>The two in a report titled, \u2018Thirsty Banks: Ghana\u2019s 2023 Challenge with High Cash Reserve Ratios,\u2019 raised several concerns including the government\u2019s approach of \u201crelying solely on traditional monetary policy tools like increasing commercial banks\u2019 reserve requirements or adjusting monetary policy rates\u201d aimed at addressing Ghana\u2019s economic challenges.<\/p>\n<p>\u201cThese measures have been excessively utilized in previous years and have become less effective due to the structure of the Ghanaian economy, which has developed a level of resistance to them over time. Bawumia (2010) affirms that the high level of reserve requirements (monetary policy instrument) reflects a legacy of high fiscal deficits,\u201d the report said.<\/p>\n<p>The report called for significant fiscal interventions in an attempt to alleviate the current economic difficulties which it said includes implementing substantial reductions in government expenditure by 30 percent.<\/p>\n<p>\u201cIn addition to monetary policy adjustments, significant fiscal interventions are necessary to navigate the economic difficulties. This includes implementing substantial reductions in government expenditure to alleviate the current economic strain.<\/p>\n<p>\u201cTo combat inflationary pressures effectively, authorities must proactively reduce central government spending by an additional 30%, with a particular focus on trimming down flagship programmes that have failed to deliver significant economic benefits since their inception.\u201d<\/p>\n<hr\/>\n<p><em><strong>Explore the world of impactful news with CitiNewsroom on WhatsApp!<\/strong><\/em><\/p>\n<p><em><strong>Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU: https:\/\/whatsapp.com\/channel\/0029VaCYzPRAYlUPudDDe53x<\/strong><\/em><\/p>\n<p><em><strong>No spams, just the stories that truly matter! #StayInformed #CitiNewsroom #CNRDigital<\/strong><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Banking Consultant Dr Richmond Atuahene and Data and Research Analyst Isaac Kofi Agyei have admonished the government to cut its expenditure by 30 per cent to effectively combat inflationary pressures. The two in a report titled, \u2018Thirsty Banks: Ghana\u2019s 2023 Challenge with High Cash Reserve Ratios,\u2019 raised several concerns including the government\u2019s approach of \u201crelying [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":169478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-169477","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cut expenditure by 30% to fight inflationary pressures - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/04\/08\/cut-expenditure-by-30-to-fight-inflationary-pressures\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cut expenditure by 30% to fight inflationary pressures - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Banking Consultant Dr Richmond Atuahene and Data and Research Analyst Isaac Kofi Agyei have admonished the government to cut its expenditure by 30 per cent to effectively combat inflationary pressures. 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