President Mahama: Ghana’s economy reset is yielding results

President John Dramani Mahama has declared that Ghana’s economy is firmly on the path of recovery, citing falling inflation, stable currency exchange rates, and renewed investor confidence.

At his maiden media encounter of his second term on September 10, 2025, the President said inflation had dropped to 11.5 per cent in July 2025, the lowest level since December 2021. 

He emphasised that this was not just a statistical achievement but one that was easing the financial burden on ordinary Ghanaians.

“Today, we are seeing a stabilisation in the price of goods and services, with inflation dropping significantly from 23.8 per cent in December 2024 to 11.5 per cent in July 2025. The prices of key commodities are falling, and for the first time in years, businesses are actively advertising their price reductions,” Mr Mahama said.

He noted that the trend reflected not only sound macroeconomic management but also relief in household budgets, with families now able to stretch their incomes further.

The President attributed the turnaround to targeted reforms, including the removal of nuisance taxes, improved energy supply that prevented power outages, and interventions that reduced the cost of doing business.

He said global rating agencies had taken note, with S&P Global upgrading Ghana’s credit risk outlook from “junk” to B minus with a stable outlook. “This upgrade signals renewed investor confidence and the positive momentum of our recovery,” he added.

The President argued that his Resetting Ghana Agenda was designed to ensure that macroeconomic stability translated directly into tangible benefits for citizens, especially those in the informal sector and small businesses.

He acknowledged that while challenges remained, the government was committed to consolidating these gains and making them sustainable. “The real economy is not in statistics but in the pockets of the people,” he said.