President John Dramani Mahama says his government's economic stabilisation efforts are beginning to yield results, pointing to the strengthening cedi and a gradual drop in prices of goods and services.
Speaking a durbar in Wa as part of his thank-you tour following his 2024 electoral victory on Thursday May 15, Mahama explained that since assuming office earlier this year, his administration has prioritised stabilising the economy, beginning with a fiscally disciplined national budget presented to Parliament in March. "Since taking over the reins of government, our focus has been on stabilising the economy," he said, adding "We therefore presented to Parliament in March this year a budget which was aimed at severely trimming expenditure and channeling saved revenue into priority programmes as promised in our manifesto." According to the President, this approach is now showing positive signs, both in currency performance and market conditions. "I am happy to report to you that our efforts to stabilise the economy have begun to yield results and it is evident in the improved performance of our local currency and also a gradual reduction of prices of goods and services in the market," he added.
Mahama's remarks come as economic indicators show slight recovery, with the Ghanaian cedi gaining value against major currencies and inflationary pressures easing in some sectors.
Analysts say continued fiscal discipline and targeted spending could further consolidate these early gains.
