ICU advises gov’t against excessive spending

The Industrial and Commercial Workers Union (ICU) of the TUC has urged government to control its excessive spending on some development projects.

The ICU says projects that do not give returns within the stipulated time, but are just for political expediency must not be prioritized.

Solomon Kotei, General Secretary of ICU, explained that if the rate of borrowing and spending by the government is not reduced to the minimum, it may have serious repercussions on the lives of the citizens.

“In the past 4 years the country’s debt stock has increased by a whopping US$80billion, thus widening the gap of GDP to debt ratio: this aside from all the key institutions in the country — the Volta River Authority (VRA), Electricity Company of Ghana (ECG), Ghana Grid Company (GRIDCO), Ghana Water Company Limited (GWCL) and furthermore the ministries — are full of toxic debts,”

Mr. Solomon Kotei, General Secretary of ICU raised these concerns in an interaction with the media in Accra.