Akufo Addo to Address Ghanaians on Economy

Sunday, October 30, 2022, President Nana Addo Dankwa Akufo-Addo will address the nation’s economy.

The president is set to address the nation at exactly 8 pm.

Ghana’s economic indices weaken. Since January, the Ghana cedi has lost about 50% of its value.

After analyzing 148 currencies, Bloomberg also ranked the currency the worst.

The cedi is above GH12.00.

Ghana’s September 2022 inflation is 37.2 percent, while producer price inflation is 45.5 percent, leaving most Ghanaians in a difficult position due to low wages and rising prices.

Food and transportation are expensive.

READ ALSO: Nana Addo To Speak On The Ailing Economy On October 30th

The Ghana Private Road Transport Union (GPRTU) will raise tariffs by 19% on Saturday, October 29, 2022, because of rising gasoline costs.

Transport companies report diesel and petrol are above GH15 and GH13 at significant fuel stations, reducing their earnings.

VIP JEOUN announced new travel costs starting Monday, October 24.

Laborers want improved circumstances. Due to the economy, manufacturers are also cutting down.

Ghana and the IMF are discussing a US$3 million bailout to reverse the economic decline.

As negotiations with the International Monetary Fund (IMF) reach a conclusion, the President and his cabinet will begin a three-day economic retreat on Thursday, October 27, 2022.