Tonight, Sunday, October 30, 2022, His Excellency Nana Addo Dankwa Akufo-Addo will address Ghanaians on the government’s intervention to revive the failing economy and to flatten the high cost of living crisis.
This results from increasing pressure on the President to address the recent economic crisis that Ghanaians are currently experiencing.
At 8:00 pm, President Akufo-Addo is set to deliver a speech during a live GTV broadcast.
The rising cost of living and the necessary reforms required to restore economic development are expected to be the main topics of the President’s speech.
A popular outcry for an improved economy has been caused by the country’s rapidly rising food costs, the abrupt depreciation of the cedi, and the rising cost of fuel.
To discuss the best ways to enhance the fiscals, Nana Addo has already met with the government and other interest groups.
The Ghanaian cedi has experienced a sharp depreciation since the year began, losing close to 50% of its value. Ghana’s economic indicators continue to deteriorate.
Additionally, according to Bloomberg’s analysis of a basket of 148 different currencies, the Cedis is the world’s worst-performing currency.
The majority of Ghanaians are in a difficult condition as a result of persistently low wages and rising producer price inflation, which is currently at 45.5 percent and 37.2 percent, respectively.
In addition to rising transportation costs, food prices are also high.
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