President John Dramani Mahama has revealed that Ghana is now ranked as the tenth-largest economy in Africa, a milestone he attributes to disciplined fiscal management, prudent spending, and steady economic recovery.
Delivering the State of the Nation Address, President Mahama highlighted that Ghana recorded an average GDP growth rate of 6.1 percent in the first three quarters of 2025, signaling a revival of economic momentum across key sectors.
He emphasized that these gains were underpinned by sound financial policies, noting a primary surplus of 2.6 percent of GDP, surpassing the 1.5 percent target, and a reduction in the fiscal deficit to 3.1 percent, below the projected 3.8 percent.
“Growth means nothing without discipline,” President Mahama stressed, underscoring the importance of maintaining fiscal prudence to sustain long-term economic stability.
The President explained that careful public spending and reduced borrowing have eased financial pressures on households and businesses, contributing to declining interest rates and encouraging private sector activity.
Looking ahead, he expressed confidence that continued fiscal discipline, coupled with strategic investment, would consolidate Ghana’s economic gains and position the country for sustainable growth and increased competitiveness in the African economy.
This announcement places Ghana alongside Africa’s economic heavyweights and reflects a recovery trajectory that prioritizes both growth and financial responsibility.
