Economist: Lack of employment policy cause of ballooning public debt

A former Advisor to the Finance Ministry, Prof Newman Kusi has told STARR BUSINESS that the lack of an employment policy is to blame for Ghana’s soaring public debt, which now stands at Ghc70 billion.

The Executive Director of policy Think Tank Institute for Fiscal Studies (IFS) said the absence of the policy is making it difficult to track the fiscal and financial implications of employment on the economy.

IFS is, therefore, pushing for the passage of an employment policy to address the concern.

Prof Kusi told STARR BUSINES’ Fred Dzakpata in an interview that the policy will help measure workers’ productivity as well as the value they add to the economy.

In his analysis, the lack of an employment policy is what makes the Government “…keep on employing [people] without knowing how much they are producing and therefore without knowing how much they are contributing to the growth of national income.”