The Founder and leader of the Liberal Party of Ghana (LPG), Percival Kofi Akpaloo has stated that due to the high cost of living in the country, it has become difficult for the average Ghanaian worker to save.
According to him, the recent hike in fuel prices, rising inflation and general economic hardship has prevented many workers from putting some monies aside from what they earn.
In his submission, he bemoaned the economic hurdles in the country and called on the government to inject more commitment in dealing with the situation, despite its earlier interventions.
“If you’re an average worker in Ghana and you look at the proportion of your expenditure on food, rent, transportation and the rest of them, it’s practically very difficult to save. You can understand why our savings rate in this country is very low while our investment requirement is high, “He told Kumasi-based Hello FM
“When it happens that way, it’s going to be difficult for the average Ghanaian to actually make significant savings in order to take advantage of even the limited economic opportunity available”, Kofi Akpaloo explained.
This he said, is a contributory factor to the hardship being experienced by citizens.
Source: newsghana.com.gh