The economy is shrinking because contractors have not been paid – Cherry

Ghanaian road contractors have blamed the country’s economic struggles on failure by the previous government to service its indebtedness to the construction sector.

According to Emmanuel Cherry, CEO of the Ghana Chamber of Construction Industry, contractors serve as “distributors of funds” in the economy.

“When we get paid, the financial sector, manufacturing sector, service sector, and labor force all benefit. But today, because we are not being paid, the economy is shrinking,” he explained.

Mr. Cherry noted that many citizens complaining about economic hardship are indirectly suffering from the government’s failure to pay contractors.

“If the government of the day looks within and pays attention to the construction sector, I’m telling you, Ghana will benefit immensely,” he stated on the on March 1.

With unpaid debts reaching GH?35 billion in the road sector alone, contractors are urging the government to take urgent action to prevent a total economic collapse.

The post The economy is shrinking because contractors have not been paid – Cherry first appeared on 3News.

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