Accra: President John Dramani Mahama has announced that Ghana is beginning to witness signs of economic recovery after his administration inherited a fragile economy in January 2025. This development follows months of concerted efforts aimed at stabilising the nation's economy.
According to Ghana Web, President Mahama addressed the nation during his Eid al-Adha speech at Independence Square, reflecting on the challenging economic conditions his government faced upon taking office. The President described the situation as one that significantly strained households, businesses, and job seekers throughout the country. He acknowledged the pressing concerns of Ghanaians dealing with high living costs, limited job prospects, and various business hurdles.
President Mahama remarked that the economic difficulties have impacted almost every segment of society, with young people particularly affected as they strive to secure employment and establish their futures. He stated, "We inherited significant economic difficulties that affected families, businesses, and especially young people seeking opportunities. Over the past months, we have worked diligently to stabilise the economy to restore confidence and build a stronger foundation for growth and job creation."
The President outlined his administration's strategy of restoring economic confidence by reinforcing key sectors, enhancing macroeconomic stability, and creating conditions for sustainable growth. He emphasized the government's focus on prudent economic management and targeted interventions aimed at alleviating the burdens on citizens while preparing for long-term development.
President Mahama acknowledged that while the country continues to face challenges, recent economic indicators hint at positive outcomes from the stabilisation efforts. He expressed optimism that the recorded improvements might lead to increased opportunities for businesses, workers, and young people in the near future.
"Today, I am pleased to report to you that there are signs of recovery and Ghana has renewed hope. Our focus now remains on creating jobs, supporting local enterprises, expanding opportunities for young people, and improving living conditions for ordinary Ghanaians," President Mahama concluded.