President John Dramani Mahama has acknowledged that Ghanaians are having a hard time, but he says that they should have patience with his administration.

“Though the economy is going through stiff challenges at the moment, we shall overcome the challenges, because we have put the right policies in places that will soon bear fruit.

“My appeal goes to the people to have patience with us. Government knows the hardship they are going through - we don’t like to see our people suffer - but sometimes we have to take bitter medicines in order to get better from ailments. We will get better from the bitter medicines we are taking now to correct the economic imbalances in the country” he said.

President Mahama was speaking in an exclusive interview with the “Africa Watch Magazine.”

He said “The nation has a bright future, things will be better and the bitter medicines will be forgotten. Patience is the word, because we as government are leaving no stone unturned in our pursuit of economic stability and prosperity.

“We are on the right course. The economy will turn the corner soon. The good days will soon be here again” he said.

Asked what his best and worst moments are, he said “There are so many. There are times when you feel good, especially when you see a policy being implemented for the general good of the people and you see the smiles on their faces. My best moments are when I go into the fields and see some of the things the government has done in terms of the provision of water, health facilities, school facilities, road networks and so on and you go and the people are so happy; and they receive you. It gives you such a good feeling.

“But you can have your worst moments too. Sometimes you get utterly frustrated. I mean you try to implement policies, and there is a lot of bureaucracy that stand in the way. Sometimes you get a feeling of depression, but I guess that comes with the job” he said.

Over the last 12 months utility tariffs have gone up by as much as 70 percent, and there have been frequent petrol price-hikes.

Within the same period, inflation has reportedly risen by as much as 14 percent.