Professor Steve Hanke, a professor of Applied Economics at Johns Hopkins University who has always been vocal about the Ghanaian economy has mocked President Akufo-Addo over his comments that he will turn the Ghanaian economy around.
He was reacting to a story published on Ghanaweb where the Trade and Industry Minister Alan Kyeremanten was reported rallying support for the government to find solutions to the crisis. The vocal economics professor tagged the post in a tweet saying that the President is probably living on a different planet concerning his views of the Ghanaian economy.
“Pres. Akufo-Addo says he will turn #Ghana‘s economic crisis ‘into an opportunity.’ SPOILER ALERT: Akufo-Addo must be on another planet. Today, I measure Ghana’s inflation at a stunning 156%/yr. That’s nearly FOUR TIMES the official rate,” he tweeted.
Meanwhile, the current inflation figure according to the Ghana Statistical Service is 40.4% for the month of October, which is 3.2% more than the figure for September which was 37.2%. According to the Statistical Service, the increase in food prices is the major driver of inflation for the month