A senior lecturer at the University of Ghana, Professor Godfred Alufar Bokpin, said that due to the high cost of living in the country, it has become difficult for the average Ghanaian worker to save. He attributed the hardship in the country to the high prices of fuel which has made inflation rise bringing unbearable hardship to the citizens in the country.
He lamented the current economic hardship and called upon the government to deal with the situation. Data from Ghana Statistical Service (GSS) shows that Ghana’s inflation has jumped from 23.6% to 27.6%. The GSS also blamed the economic hardship in the country on high transportation fares and food prices.
The minimum wage in Ghana still stands at GHS13.53, which means that an average Ghanaian earns approximately GHS365.31 monthly. The figure is quite abhorring considering the economic status of Ghana. A National Service person (name withheld) stated that he has to walk to work considering the hardship in the country now. The rate of transportation fares increase is now alarming in the country.
This year alone, transportation fares have increased more than three times, and fuel prices more than five times in the country only this year. A worker at the University of Ghana lamented the increase in fares and fuel prices. He said that the amount of fuel that could power his car for a month does not fuel his car for two weeks. He stated that his spending has gone high, and he cannot save now for future use.
Almost all the prices of goods in the country have increased by more than 70%. This is quite worrying for Ghana, whose monthly minimum wage is less than GHS400. Recently I went to a gas station to fill my gas cylinder, and the prices had almost doubled compared to the last time I got it filled. My monthly budget has increased exponentially, and I asked myself if I will be able to pay my landlord when my rent is due. The situation is similar everywhere as a mom of three lamented the cost of living in the country now. She said that she does not even have a penny in her account that will help her in any emergency.
In Ghana, it is difficult for you to see a teacher with a car. I spent all my primary school days in government schools, and it was only my grade 6 teacher who had a car. Even in the above example, her husband was a well-to-do man so maybe he supported her in buying one. A teacher who has been teaching for almost 20 years told me that he has been thinking of his pension and that sometimes he is even asked if his service to the country is meaningful. He stated that the proportion of his expenditure on food, rent, transportation, and the rest of his upkeep is high, making it practically impossible for him to save.
Emphatically the average Ghanaian cannot boast of any investment, and it is difficult for them to attend to an emergency. Spare me all the talks and backlashing, but the current economic hardship in the country is not appropriate for some of the taxes the government is imposing on the citizens.
Even in this crisis, a National Communications team member of the NPP, Ellen Ama Daaku has asked the opposition party to refrain from blaming the Akufo-Addo’s government for the prevailing economic downturn in the country. Member of Parliament for the North Tongu Constituency, Samuel Okudzeto Ablakwa, has also stated that if the current situation in the country is not addressed, the level of suffering by the populace will destabilize the peace and political stability in the country.
Although there is a fact in this statement, the majority of the citizens know that he is playing politics. The situation is critical, and all hands must be on board to help curb the hardship in the country, irrespective of one’s political attire.