According to President Nana Addo Dankwa Akufo-Addo, he is well aware of the problems Ghanaians are experiencing as a result of the current economic difficulties.
According to Nana Akufo-Addo, the administration is making efforts to lessen the hardship of the populace.
"I am aware of the problems that our currency has faced. I have observed the challenges and the sharp increase in prices, the considerable increase in the cost of living, and the challenges generally in the way the economy is growing," he remarked.
At the Jubilee House, Nana Akufo-Addo told reporters that he would require everyone's support.
In order for us to move on and, hopefully, continue to build a better economy, "we have to understand that all sectors and actors of the economy, whether on the side of management, labor, and workers, have to find a method of balancing the many issues."
The economic indicators for Ghana are getting worse.
For instance, the value of the Ghana cedi has decreased significantly since the start of the year, by almost 50%.
According to Bloomberg, the dollar has also had the lowest performance globally when compared to a basket of 148 different currencies.
Ghana's inflation rate for September 2022 is 37.2 percent, but the country's producer price inflation rate for the same period increased to 45.5 percent, placing the majority of Ghanaians in a precarious situation as their purchasing power continues to decline in the face of low wages.