By Benjamin Nii Nai Anyetei
President John Mahama has declared that Ghana’s economy is showing clear signs of recovery, with falling inflation, currency stability, and renewed investor confidence pointing to what he described as “a real turnaround.”
Speaking at his first media encounter since beginning his second term, President Mahama said inflation had dropped to 11.5 percent in July 2025, the lowest since December 2021.
“Today, we are seeing a stabilisation in the price of goods and services, with inflation dropping significantly from 23.8 percent in December 2024 to 11.5 percent in July 2025. The prices of key commodities are falling, and for the first time in years, businesses are actively advertising their price reductions,” he noted.
According to him, this was not just a statistical milestone but one that was already easing household financial pressures. Families, he said, are now able to stretch their incomes further.
The President attributed the economic gains to reforms under his Resetting Ghana Agenda, including the scrapping of nuisance taxes, improved energy supply that has reduced outages, and interventions that lowered the cost of doing business.
He added that international confidence in Ghana was also rebounding, citing S&P Global’s upgrade of Ghana’s credit rating from “junk” to B-minus with a stable outlook.
“This upgrade signals renewed investor confidence and the positive momentum of our recovery,” Mahama explained.
While acknowledging that challenges remain, he stressed that his government’s priority is to ensure that macroeconomic stability translates into benefits for citizens, especially small businesses and the informal sector.
“The real economy is not in statistics but in the pockets of the people,” he emphasised.
The President pledged that his administration would work to consolidate the gains and make them sustainable in order to build long-term resilience.
