President John Dramani Mahama has said his government inherited a weakened economy when they took over from the erstwhile Akufo-Addo administration in January 2025.
According to the President, the state of the economy at the time left many households struggling to make ends meet.
The sorry development then, the President says, was as a result of the reckless mismanagement by the previous government.
Addressing the House of Parliament on the state of the Nation on Friday, February 27, 2026, President Mahama said his administration promised to reset the economy and that is a cause they are on course in making a reality.
“We inherited an economy in severe crisis burdened by unsustainable debts, high inflation, a rapidly depreciating currency, and an escalating cost of living crisis that has left our citizens reeling from unimaginable hardship, caused by years of general impudence and reckless management of the economy.
“Mr. Speaker, I was clear from that outset that recovery will not come easily but I was also clear that I will stop at nothing but to turn this situation around and bring relief to Ghanaians,” he stated.
President Mahama took inspiration from where the nation has been before, expressing optimism of restoring the nation back on the path of growth and development.
“I promised then that just as we had confronted and overcome crisis in the past, I’ll reset our economy and return us to a path of growth, progress and development.”
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