The government plans to adjust worker salaries for the 2025 fiscal year, announcing a National Tripartite Committee to oversee this process.
The Committee, which is comprised of the Government, Employers, and Organized Labour/ Associations has begun negotiations on the 2025 National Minimum Wage signaling the government’s commitment to fair compensation for workers.
A statement from the Office of the President said that the negotiation began on Tuesday, February 3, 2025. After the negotiations on the minimum wage, negotiations for base pay for public sector workers will also take place.
Recognizing that the negotiations are behind schedule, the presidency is therefore urging all parties to speed up the process in order for the decisions to be considered in the 2025 Budget Statement.
“Given that negotiations for both the minimum wage and the base pay for the 2025 financial years are behind schedule – as they were expected to be completed by the end of April 2024, per the Public Financial Management (PFM) Act,” the statement indicated.
It added that “Government is calling on social partners to work expeditiously to complete the negotiations in time to inform the 2025 Budget.”
With the commencement of the negotiations, private sector workers and civil servants anticipate adequate adjustments to commensurate with the rising cost of living in the country.
However, these talks come against the backdrop of economic challenges, including persistent inflation, a depreciating cedi, and revenue shortfalls that have placed fiscal pressure on the government.
In addition, the debt overhang as well as the suspended bonds which have started maturing this year puts the government under intense fiscal pressure.
With the 2025 Budget in the works, the outcome of these discussions will be pivotal in shaping Ghana‘s economic trajectory and labor market stability.
Workers across the country are keenly watching as the new administration navigates the delicate balance between economic prudence and ensuring fair wages in a tough financial climate.
