President John Dramani Mahama has declared Ghana’s economy one of the strongest on the continent, citing sound fiscal management, disciplined reforms, and national resilience as key drivers of the turnaround.
Delivering remarks at the National Day of Prayer and Thanksgiving on July 1, after joining Muslim faithful at the National Mosque, the President offered a bullish assessment of the country’s economic trajectory, even as global headwinds persist.
“God has been good to us this past year. He has guided our steps and granted us the wisdom and courage required to turn this economy around,” Mahama stated.
He pointed to Ghana’s ability to withstand external shocks, including the ongoing conflict in the Middle East, as evidence of the economy’s newfound durability.
“Today Ghana’s economy is recognised as one of the best-performing in Africa. Even in the face of the conflict in the Middle East, our economy has demonstrated remarkable resilience and Ghanaians have been spared the effects of the external shocks occasioned by that war,” he added.
The President acknowledged that the recovery path was paved with difficult choices, some of which drew public criticism, but insisted they were necessary to restore order and confidence.
“The decisions required to restore the economy were neither easy nor popular. They demanded sacrifice, discipline and patience,” he said, adding: “But by the grace of the Almighty Allah, together with prudent economic management and the resilience of the Ghanaian people, Ghana has turned the corner.”
Mahama highlighted concrete gains across multiple indicators: sharply lower inflation, a stabilised cedi, reduced public debt, stronger reserves, and renewed investor interest.
“Inflation has declined significantly. Our currency, the cedi, has regained stability. Our debt has reduced. Our international reserves have improved. Investor confidence has strengthened, and growth opportunities are steadily returning,” he noted.
However, he was careful to frame the progress as a foundation, not a finish line.
“These achievements are not an end in themselves. They represent renewed hope for businesses, greater confidence among investors and a stronger foundation on which we can create jobs, expand opportunities and improve the quality of life of our people,” the President said.
The prayer event, which drew religious leaders, government officials, and citizens, was held under the theme of national unity, peace, and continued development.
