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He believes despite all challenges facing the country, the government has ensured the supply of basic commodities to prevent the crisis from worsening.
He made these comments at the 66th Independence Day Anniversary celebration at Adaklu in the Volta Region.
“We all see the images around the world, here in Ghana, we’ve not had any fuel queues, we’ve not suffered shortages of food and essential items, or the catastrophe of dumsor. Undoubtedly, major global developments have harmed our domestic economic performance."
“We’ve witnessed historic heights in global inflation and food prices. Rising global interests rate triggered by the tightening of monetary policy of Central banks across several advanced economies to tame rising inflation and energy crisis with crude oil prices reaching unprecedented heights at one point above $120 a barrel."
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Ghana is currently seeking a bailout from the International Monetary Fund (IMF) for an economic recovery amid intensifying hardship, a rising cost of living, and a depreciating cedi.
President Akufo Addo has assured Ghanaians of his administration's resolve in finding solutions to the challenges.
Ghana gained independence on March 6, 1957, after 83 years of British colonial rule becoming the first sub-Saharan African country to achieve independence from Britain.