President John Dramani Mahama has expressed renewed confidence in Ghana’s economic outlook, pointing to the recent appreciation of the Ghana Cedi and a suite of planned infrastructure projects as evidence of a rebound under his administration.
Speaking at a thank-you durbar in Wa on Thursday, the president declared that his government’s stabilization measures were beginning to yield visible results.
“I’m happy to report that our efforts to stabilise the economy have started to show results, evident in the improved performance of our local currency and a gradual reduction in prices of goods and services,” he stated.
The Cedi’s strengthening against the US dollar—a trend noted by financial observers over the past two months—has become a key talking point for the Mahama administration, which has faced intense scrutiny over economic management during previous tenures.
The current improvement, analysts suggest, is likely bolstered by coordinated monetary policy and fiscal restraint, though they warn that long-term recovery hinges on economic diversification beyond cocoa, gold, and oil.
President Mahama used the platform not only to highlight monetary progress but also to unveil a renewed push for infrastructure development under his much-publicized ‘Big Push’ initiative.
This programme, which aims to inject GHS 14 billion into nationwide infrastructure this year, is central to Mahama’s broader strategy to stimulate economic activity and reduce unemployment.
He outlined a list of priority projects awaiting cabinet approval, including the dualization of major highways such as Accra-Kumasi and Accra-Takoradi roads.
He also mentioned the construction of major bridges to improve national connectivity and reduce logistics bottlenecks.
“These projects are not just about roads and bridges. They are about jobs, local enterprise, and the engine of growth that infrastructure represents,” Mahama said.
The president commended Finance Minister Cassiel Ato Forson and Bank of Ghana Governor Dr. Johnson Asiama for what he described as effective economic collaboration, attributing recent gains to their leadership.
“I wish to commend the Minister for Finance and the Governor of the Bank of Ghana for their close collaboration in this economic turnaround,” he added.
Mahama hinted that further economic reforms and positive announcements are likely to be unveiled in the upcoming mid-year budget review in August.
“By the time the Honourable Minister presents his mid-year review, we’ll have more good news for Ghanaians,” he stated, raising anticipation for potential policy adjustments or tax reliefs.
