Gabby-Otchere-Darko-

Gabby Otchere-Darko on Ghana’s economy: “The struggle is real.”

Gabby Otchere-Darko, a private legal practitioner and member of the ruling New Patriotic Party (NPP), has acknowledged the harshness of Ghana’s economy and its impact on the people.

According to him, ‘the struggle is real’.

In a Facebook post on Friday, the NPP member bemoaned the increasing rate of inflation and the difficulty it is posing for Ghanaians.

“If this inflation does not stop galloping, soon it will be racing alone on its own because incomes are struggling to even see the back of inflation’s distant shadow, never mind the many unemployed with no income. The struggle is real …”, he wrote.

 

Gabby’s comments come at a time when the country is facing fiscal difficulties as well as a slew of other economic challenges.

Currently, the country’s September inflation rate is 37.2%, the highest in a decade. This compares to the 33.9% reported in August 2022.

According to the Ghana Statistical Service, five groups experienced higher-than-average inflation in September.

They were Housing, Water, Electricity, Gas and Other fuels (68.8%); Furnishings, Household Equipment and Routine Household Maintenance (51.1%); Transport (48.6%); Personal Care, Social Protection and Miscellaneous Goods and Services (42.6%) as well as Food and Non-Alcoholic Beverages (37.8%).

The implementation of the utility tariff in September 2022 also influenced the surge in inflation in Housing, Water, Electricity and other Fuels group.

 

As a result of this situation, citizens have renewed their calls for the government to intervene.

Meanwhile, Ghana’s Finance Minister, Ken Ofori-Atta, is in talks with the International Monetary Fund to reach an agreement on mutual terms in the country’s proposed IMF bailout request.

According to the government, it is hopeful of reaching an agreement with the IMF that will help put the country’s economy back on track.

 

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