President Nana Akufo-Addo has admitted that the government is broke.

He made this frank statement when he met with the leadership of the University Teachers Association of Ghana (UTAG) following strike and protest threats by various labour unions in the country.

“There are some things that should be easy to deal with but will prove difficult for some time to come largely because there is no money. But now arrangements are being put place that will enhance the generation by the state,” the president said.

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He partly blamed the erstwhile Mahama-led administration for the current economic outlook of the country.

“The economic situation my government and I inherited was not the best; both in terms of the growth of our economy and the balances available in the public treasury. Many of the problems you are putting here are the results of a poor office treasury.”

“If we had money in the public system, you would find that many of the issues that concern you would not be there,” he stated.

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President Akufo-Addo said the leaks in the system resulting from corruption, maladministration and the like also contribute to the financial weakness of the country.

He, therefore, said that “the money we require to fund our own development will be immeasurably enhanced. Our need to go around begging people to help us will be reduced dramatically.”