Amin Adam Says 24-Hour Economy Policy 'Dead on Arrival'

Former Finance Minister Mohammed Amin Adam has criticized the government's 24-hour economy policy. He calls it a mere slogan lacking a clear implementation plan. Adam states this policy is effectively dead on arrival. He believes the government is pushing public institutions to run 24 hours. This happens without hiring more staff. Such a public sector approach is fundamentally flawed, according to Adam. He argues that expecting the public sector to create jobs this way is unrealistic. The government does not have enough money for such expansion. The current public sector wage bill is already very high. It takes up 30% of the national budget. This figure is expected to reach 33% in 2025. Doubling the wage bill could bankrupt Ghana. Adam claims the policy has stalled. This is because the government failed to deliver promised incentives. These incentives were for the private sector in the 2026 Budget. The 24-Hour Economy Secretariat has not received its budget. The allocation was GHS110 million for the year. Adam calls the policy a scam. This policy aims to boost economic activity by extending working hours. It targets sectors like trade and commerce. The government had hoped to create jobs and increase productivity. However, critics like Adam point to a lack of groundwork. The policy's success hinges on private sector buy-in. This requires concrete support mechanisms. Without these, operations cannot truly extend 24/7. The national debt and fiscal constraints are also major hurdles. Ghana's wage bill is a significant concern for fiscal sustainability. Any expansion needs careful financial planning. The economic outlook for Ghana has been challenging. Inflation and currency depreciation have impacted businesses. The 24-hour economy policy was intended to be a key growth driver. Its perceived failure raises questions about government economic planning. It may also signal a need for more detailed policy development. Future economic initiatives will likely face greater scrutiny.