- Finally president Nana Akufo-Addo has said he can see the strain and suffering in the Ghanaian economy
- The president said he has experienced the cedi depreciation and the rapid increases in the prices of goods on the markets
- Akufo-Addo made the stunning admission when he spoke to the presidential press corp at Jubilee House
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In what some have described as belated, president Nana Akufo-Addo has admitted that there are biting economic challenges in Ghana.
Interacting with the presidential press corps at the Jubilee House on Friday, October 28, 2022 the president said his government needs the support of every Ghanaian to steer the country away from further economic distress.
"I have seen the difficulties that our currency has been having. I have seen the difficulties and dramatic rise of price levels, significant rise in the cost of living and difficulties generally...
“We have to understand that, all sectors and actors of the economy either on the side of management, labour and workers have to find a way of balancing the various considerations so that we can all progress and continue hopefully in building a stronger economy," Citinewsroom quoted the president.
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Rising inflation has destabilised the market of goods and services while a fast depreciating cedi and a volatile petroleum pricing regime has plunged living conditions to an all-time high for Ghanaians.
Since the start of year, Ghana's economy had showing signs of strain but the war in Ukraine wreaked the global trade system and exposed deep cracks in Ghana's economy.
For many months Nana Akufo-Addo and government communicators failed to admit the challenges Ghanaians were facing and instead clapped back at critics of the current administration.
Akufo-Addo Must Not Only Sack Ofori-Atta He Should Reconstitute Entire Economic Management Team – Mahama
Meanwhile, YEN.com.gh has reported in a previous story that former president John Mahama has joined the huge number of people calling for finance minister Ken Ofori-Atta to be sacked.
The ex-president said president Nana Akufo-Addo must not only sack the minster, but must reconstitute the entire economic management team.
He made the comments when he spoke at a forum to discuss Ghana's economic challenges and to proffer solutions.
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