President John Dramani Mahama has said Ghana’s economy has emerged as one of the best-performing on the African continent, attributing the turnaround to prudent economic management, fiscal discipline and the resilience of the Ghanaian people.
Speaking at the National Day of Prayer and Thanksgiving on July 1 after joining Muslims for prayers at the National Mosque, the President said the country had made significant economic progress over the past year despite prevailing global uncertainties.
“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,” he said.
President Mahama stated that Ghana’s economic performance has earned recognition across Africa, noting that the country has remained resilient even amid external shocks, including the ongoing conflict in the Middle East.
“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 said.
The President acknowledged that the policies introduced to stabilise the economy required difficult and, at times, unpopular decisions, but maintained that they were essential to restoring macroeconomic stability and rebuilding confidence.
“The decisions required to restore the economy were neither easy nor popular. They demanded sacrifice, discipline and patience,” he stated.
He credited the country’s progress to what he described as the grace of God, sound economic management and the determination of Ghanaians.
“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,” he added.
President Mahama highlighted improvements in several key economic indicators, including lower inflation, a more stable cedi, reduced public debt, stronger international reserves and renewed investor confidence.
“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 opportunities for growth are steadily returning,” he noted.
He stressed that the gains achieved should serve as a platform for creating jobs, expanding economic opportunities and improving the living standards of Ghanaians.
“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 National Day of Prayer and Thanksgiving brought together religious leaders, government officials and members of the public to offer prayers for peace, unity and Ghana’s continued development.
