President John Dramani Mahama has assured Ghanaian workers that they will be the first beneficiaries of the next phase of the government’s economic transformation programme under the “Resetting Ghana” agenda.
Speaking at the 2026 May Day celebration in Koforidua, the President said the country is now moving beyond economic stabilisation to a stronger focus on job creation, productivity, and inclusive growth.
“I wish to promise the Ghanaian worker that as the economy grows, you will be the first to benefit,” he said, stressing that economic gains must translate into real improvements in household incomes and living standards.
He explained that while recent efforts to stabilise inflation, the currency, and public finances were necessary, the next phase of policy will prioritise expanding productive sectors of the economy to generate employment.
“Our mission is clear… we want to turn stability into opportunity,” he said.
Economic turnaround under adjustment programme
President Mahama noted that Ghana’s recovery has been supported by reforms under the $3 billion Extended Credit Facility with the International Monetary Fund, following the country’s 2022 debt default.
He cited improvements including a sharp drop in inflation from 23.8% at end-2024 to 3.2% in March 2026, a rebound in economic growth to over 6%, and a stronger fiscal position with a primary surplus.
He also highlighted an increase in foreign reserves to $13.8 billion—equivalent to nearly six months of import cover—saying these gains provide the foundation for job-led growth.
“Stability is the foundation, but it is not the house,” he said, adding that the focus must now shift to building inclusive prosperity.
Jobs and accountability focus
The President said the government’s next phase of reforms will prioritise investment, industrial expansion, and employment creation, particularly for teachers, technicians, and industrial workers.
On governance, he reaffirmed his administration’s commitment to accountability and anti-corruption measures, commending the judiciary for expanding High Courts to speed up prosecution of audit-related cases.
He also addressed recent energy concerns, revealing that engineers have fully restored operations at the Akosombo Hydroelectric Plant following a fire incident, with all six turbines back online.
President Mahama assured workers that government will maintain continuous engagement with labour unions and stakeholders as reforms progress, with a clear focus on improving livelihoods through sustainable economic growth.
