A senior cleric of the Assemblies of God Church, Rev. Alex Nkrumah, has raised concerns over government assertions of improving economic conditions, insisting that many Ghanaians are yet to experience tangible relief in their daily lives.
Speaking during a sermon at the Revival Restoration Center at Roman Ridge, Rev. Nkrumah highlighted what he described as a widening gap between official economic data and the realities on the ground.
According to him, recent announcements pointing to declining policy and interest rates do not reflect the continued hardship faced by citizens.
He cited returns on government treasury bills as an example, noting that investments are yielding minimal gains that fail to keep pace with rising living costs.
“We are being told that the policy rate has come down and interest rates are improving, but what does that mean for the ordinary Ghanaian?” he questioned.
“If someone invests GHS1,000 in a treasury bill for a year and earns very little in returns, how does that translate into economic relief?”
Rev. Nkrumah argued that although macroeconomic indicators may suggest stability, the prices of essential goods and services continue to climb, placing a heavy burden on households.
He pointed to increases in the cost of everyday items, including sachet water, as evidence that inflationary pressures are still being felt at the grassroots level.
“If the figures being presented are not reflected in our pockets, then there is a problem,” he stated. “People are paying more for basic necessities despite being told the economy is improving.”
The preacher also expressed concern about declining returns on fixed deposits, attributing the trend to falling treasury bill rates.
He noted that engagements with financial sector players indicate that interest earnings have dropped significantly, affecting savings and investment incentives.
Despite these concerns, recent economic data suggests some improvement in key indicators.
Inflation is reported to have declined significantly to between 3.2% and 9.4% by late 2025 to early 2026, marking a sharp drop from previous highs.
Gross Domestic Product (GDP) growth is also projected to recover strongly, with estimates ranging between 5.5% and 5.8% in 2026.
Additionally, the policy rate is said to be within the range of 14% to 15.5%, reflecting adjustments in response to easing inflation.
The Ghanaian cedi has also shown relative stability against major currencies, trading at approximately GHS10.99 to the US dollar.
Beyond his economic critique, Rev. Nkrumah urged Ghanaians to remain courageous and proactive in the face of ongoing challenges.
Drawing on a biblical analogy, he encouraged believers to act with faith and boldness rather than passively accepting difficult conditions.
“Courage is needed in times like this,” he said. “We must not simply accept everything as it is, but stand firm and act with conviction.”
His remarks add to growing public debate over the disconnect between official economic improvements and the lived experiences of citizens, as many continue to grapple with high costs of living despite assurances of recovery.
By 1960news.com
