There are difficulties – Akufo-Addo acknowledges

The President, Nana Addo Dankwa Akufo-Addo has acknowledged there are difficulties in the world, Ghana inclusive.

However, his government has not “thrown up its hands in despair”.

He made the remark at the 65^th Independence Day Anniversary celebration held at Cape Coast in the Central Region on Sunday, March 6 and monitored by GhanaPlus.com.

According to him, his government is rather determined to lead the country to be more self-resilient and find in house solutions to the challenges.

He enumerate high cost of items in the market, high fuel prices, increase in the country’s debt, erosion of the fiscal space among others as the challenges currently confronting the world including Ghana.

He is however, hopeful the country will bounce back adding some progress have been made by his government.

“Fellow Ghanaians, for the last two (2) years, we have seen as a result of the COVID-19 pandemic, the disruption of the global supply chain and the global financial system, the opening up of a huge funding gap in virtually all countries, the erosion of the fiscal space, the widening of the fiscal deficit and increase public debt. Simply put there are difficulties everywhere in the world. We are seeing increasing rates in global freight rate, rising crude oil prices, which means rising fuel prices, raising cost of items in the market as a result of inflatory pressures and the depreciation of currencies,” Nana Addo said.

“ In as much as these are happening in all countries in the world, the government of Nana Addo Dankwa Akufo-Addo has not thrown its hands in despair. We are not looking at an easy way out. We are determined to become even more self- resilient and in the process find Ghanaian solutions to Ghanaian problems. Already we have made progress towards this end,” he added.

Hardships in Ghana

Ghana have not been doing well in its fiscal space in recent times, a situation, government have blamed it on the COVID-19 pandemic which hit the world in the latter part of 2019.

There are also hardships in the country as Ghanaians have had to deal with hikes in virtually everything on the market periodically.

Source: GhanaPlus.com