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Vice President Dr Mahamudu Bawumia has admitted the challenges and economic hardship Ghanaians are going through.

“From the man on the streets to the business mogul, the food we eat, the clothes we wear, the shelter we seek or have, to the benevolence we extend to friends and family, the health of the economy is the cardinal instrument. To bring this home, essentially the economy is what we feel in our pockets. I acknowledge that times are hard. This is the reality irrespective of the cause . . . Today our economy is witnessing rising prices of fuel, and virtually all commodities like bread, rice, sugar, sachet water, cement, iron rods, and so on . . . Even the price of my favorite 'Kofi Brokeman' and kenkey are seeing price increases. These are the stark realities that confront us today, ” he said.

Speaking at a conference held by TESCON, the student wing of the New Patriotic Party (NPP) on Thursday, April 7, he attributed the cause of the economic challenges to the Russia/Ukraine war and the COVID-19 pandemic.

According to him, Ghana "is directly affected by the Russia-Ukraine war" however, government has introduced measures to reduce the hardship.

“The increase in commodity prices has been exacerbated by the Russia-Ukraine conflict. The longer the conflict the greater will be the disruptions to global food supply. In Ghana for example, 30% of our cereal grains, wheat flour and fertilizer is from Russia. 60% of iron rods and metal sheets imports is from Ukraine. 20% of Ghana's manganese exports is to Ukraine. . . So we are directly affected by the Russia-Ukraine war. Unfortunately, we do not know when it will be over..." he added.