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The economy of the country’s comprises all activities related to the production consumption, trade and distribution of available goods and services.
The state of the country’s economy is not as bad as some people are touting. Why do I say the economy is not as bad?, when you want a product or commodity you can find it because it is available.
The economy is not a perfect one either because purchasing power for these commodities are low.
Between 2016 and 2023, the Ghana cedi has lost 64% of its purchasing power and within the last year the purchasing power of every salary worker has reduced tremendously.
Given the fact that salaries have not increased but prices of commodities have increased, the rise of fuel prices has affected transportation cost. Transportation has also affected the price of foodstuff.
Looking at these problems, Ghanaians should control their taste and desire for foreign products. A lot of the Ghana cedi is used in purchasing these foreign products which affects the economy.
The government should encourage local production which will facilitate export to generate foreign income or to be used as barter for foreign goods.
The public should be educated on the advantages of consuming local products, that is growing what we eat.
Generally the state of Ghana’s economy is not as bad but its just a bit difficult.
Story By: Nana Abena Ntim/ Pinkfm News Editor.