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Economic downturn: Gabby Otchere-Darko 'must be on another planet' - Prof. Hanke jabs

Gabby Otchere Darko Professor Steve Hanke121212 Professor Steve Hanke and Gabby Asare Otchere-Darko

Sat, 24 Sep 2022 Source: www.ghanaweb.com

Professor of Applied Economics at the Johns Hopkins University in the United States has taken on New Patriotic Party (NPP) member, Gabby Asare Otchere-Darko.

Prof. Steve Hanke described Gabby as being 'on another planet' over his recent claim that the government needed to be lauded for its handling of the economy.

Hanke posted a GhanaWeb story of Gabby's claims on Twitter and captioned it thus: "Leading member of the New Patriotic Party (NPP) Gabby Otchere-Darko says Pres. Akufo-Addo deserves praise for his handling of the economy. SPOILER ALERT: Otchere-Darko must be on another planet."

He added his usual inflation measurement which he said stood at 81%/y, a figure that is over 100% the official inflation percentage pegged at 33.9%.

Gabby's tweet of September 22, 2022 read: "The Akufo-Addo govt and, in particular, MoF, deserve the nation’s commendation for their handling of the economy in these most challenging times. Despite slump in revenues, bills are being paid, including salaries, roads being fixed, & money found for programmes like YouStart."

The Ghana Statistical Service, GSS, recently announced that consumer inflation for August 2022 hit 33.9% from 31.7% in July.

This is the highest rate that has been recorded in 21 years. According to the GSS, food and transportation were the main drivers of inflation.

Professor Hanke who has taken a keen interest on economic issues of Ghana in a separate tweet said Ghana’s economy was tanking – an expression which means the economy is down and there are fears of a recession.

He has in the past blamed the Akufo-Addo-led administration for putting the economy in a dire situation.

“Ghana is in 8th place in this week's inflation table. On Sep 8, I measured Ghana's #inflation at a stunning 81%/yr--over 2x the official inflation rate of 34%/yr. #Ghana's economy is TANKING. To rein in inflation, GHA must install a currency board,” he tweeted on September 19.

“Today, I measure #Ghana's inflation at 81%/yr. As a result, Ghanaians don't know the price of anything anymore. When Ghanaians see their grocery bills soar, they can thank Pres. Akufo-Addo,” Prof Hanke added.

SARA

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Source: www.ghanaweb.com
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