The governing New Patriotic Party (NPP) says it is troubled by the increasing rate of inflation in the country.
National Chairman of the party, Stephen Ayesu Ntim noted that the situation has significantly affected the country’s economy and contributed to the prevailing crisis.
However, Mr. Ntim insisted that it is a global phenomenon and cannot be blamed on managers of Ghana’s economy.
Making references to the situation in other countries such as Nigeria and the United Kingdom, the governing party’s Chairman said countries across the globe are experiencing astronomical rise in inflation thus, it is not peculiar to Ghana.
“We are not particularly about the level of inflation today. It has affected our economy badly but the truth is that it is a global problem. We can’t denied,” he stated.
Adding, “In February 2023, the UK’s inflation was 10.4 percent up from the usual average of 2.7 percent since 1989. In Nigeria, just next door, inflation jumped from 1.4 percent in 2019 to 20.8 percent in January 2023. That’s almost a 50 percent rise in inflation. The world economic outlook report released on 11th October 2022, forecasted global inflation to rise from 1.7 percent in 2021 to 8.8 percent in 2022. That represents about 50 percent upward jump in global inflation”.
Stephen Ntim said this at a press conference held by the party on April 4, 2023 to counter the NDC’s ‘True State of the Nation Address’ held on March 20, 2023.
Mr. Ntim accused the opposition party of spreading disinformation and downplaying the impact of the Covid-19 pandemic on the economy.
He maintained that the country’s economic woes are as result of the debilitating impact of the pandemic and the ongoing geopolitical conflict between Russia and Ukraine.
He said unlike the NPP’s government, which he claimed has been peerless in handling the economy even in the face of global crisis, the NDC has demonstrated sheer incompetence not only in managing the country’s affairs but also in playing its role as the main opposition party in the country.
