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The Director of Research at the Institute of Economic Affairs, Dr John Kwakye has described the 2023 Christmas period as the most expensive in Ghana\u2019s history.<\/p>\n
In a series of posts on X bemoaning the realities of Ghana\u2019s economy, Dr Kwakye cited the relative decline in economic and social activities as testament to his claim.<\/p>\n
\u201cWhen inflation skyrocketed to 54% in Dec 2022, it took prices to record highs. While it has decelerated since then, prices continued to rise, though at lower rates. This Xmas will go down as the most expensive in our history! The relatively low activity is a testimony to that,\u201d he posted.<\/p>\n
While noting Ghana\u2019s recent economic difficulties, President\u00a0Nana Addo Dankwa Akufo-Addo\u00a0in his 2023 Christmas message claimed that the country through prudent management by his government has made a turn towards recovery.<\/p>\n
But responding to the president\u2019s claims in his tweets, Dr Kwakye said the realities of Ghana\u2019s economy speak different from the president\u2019s claim and the data that backs same.<\/p>\n
\u201cOur economic managers shouldn\u2019t be hasty to make utterances like we have \u201ctamed inflation,\u201d \u201cstabilised the exchange rate,\u201d \u201cturned the corner,\u201d etc. because the economy is still fragile, vulnerable, and fickle,\u201d he stated in one of his tweets.<\/p>\n
\nOur economic managers shouldn\u2019t be hasty to make uterrances like we have \u201ctamed inflation,\u201d \u201cstabilised the exchange rate,\u201d \u201cturned the corner,\u201d etc. because the economy is still fragile, vulnerable, and fickle.<\/p>\n
\u2014 J. K. Kwakye (@JohnKwabenaKwa1) December 20, 2023<\/a><\/p>\n<\/blockquote>\n
\nWhen inflation skyrocketed to 54% in Dec 2022, it took prices to record highs. While it has decelerated since then, prices continued to rise, though at lower rates. This Xmas will go down as the most expensive in our history! The relatively low activity is a testimony to that.<\/p>\n
\u2014 J. K. Kwakye (@JohnKwabenaKwa1) December 26, 2023<\/a><\/p>\n<\/blockquote>\n
Source: www.ghanaweb.com<\/p>\n
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