President John Dramani Mahama has maintained that Ghana’s economy is showing strong signs of resilience despite global economic pressures and external disruptions affecting many countries.
He said the government’s focus on fiscal discipline, inflation reduction, and sustained infrastructure development has helped stabilise key economic indicators and strengthen public confidence in the economy.
Addressing a durbar dubbed “Accounting to the People” in Tamale on Sunday as part of his two-day Resetting Ghana Tour of the Northern Region, President Mahama assured citizens that the economy remains stable and well managed.
“The country’s economy is in safe hands. The economy is resilient and despite the external events taking place, our economy is still sound and strong,” he said.
The event brought together traditional leaders, residents, and government officials, who presented updates on progress made in various sectors over the past year as well as ongoing interventions.
President Mahama noted that Ghana had managed to maintain macroeconomic stability even at a time when several economies were struggling with rising fuel prices and global supply disruptions linked to geopolitical tensions.
He explained that government interventions had helped moderate fuel price increases and prevent sharp inflationary pressures, while also supporting stability in the local currency and sustaining relative price stability.
He further indicated that inflation, which was above 24 percent at the start of his administration, had been reduced to below four percent through what he described as prudent fiscal management and disciplined economic policies.
According to him, despite Ghana’s restricted access to international capital markets following a debt default, government had continued to execute key development projects using domestic resources.
He said this approach had demonstrated the effectiveness of mobilising local resources to support national development priorities.
President Mahama cited ongoing infrastructure works, particularly in the road sector, as evidence of this strategy, noting that about 2,000 kilometres of roads were currently under construction across the country.
These projects, he said, include major highways and road networks connecting regional capitals to district capitals, all being implemented simultaneously without external borrowing.
He added that the scale of ongoing infrastructure development reflects both economic resilience and government’s commitment to responsible financial management.
