President John Dramani Mahama says his government’s economic reset agenda is working, and the country is seeing early signs of a turnaround just 199 days into his administration.
Speaking during a his final Thank You Tour at Dambai in the Oti Region, the President revealed that Ghana’s public debt has dropped by over GH¢113 billion from 61.8% of GDP at the end of 2024 to 43.8% by the end of June 2025.
“This has probably been the most anticipated Mid-Year Budget Review in recent years,”
“The response so far indicates that Ghanaians are generally satisfied with my government’s economic management over the past 199 days”, Mahama said.
He noted that inflation has declined from 23.8% in December 2024 to 13.7% in June 2025, and Ghana’s credit rating has improved from junk status to B- with a stable outlook.
The President also highlighted a major rebound in the cedi: “The Ghana cedi has appreciated by over 40% in value against the major international currencies. This development has reversed the depreciation in the cedi value from 2022, 2023 and 2024.”
Mahama emphasized that the gains are the result of deliberate, prudent measures: “We aim to exercise fiscal prudence to maintain a stable cedi.”
Turning to governance and decentralization, President Mahama reaffirmed his commitment to traditional authority and local governance.
“Our government recognizes that sustainable development must be rooted in strong local governance and traditional leadership systems,” he said.
He explained that as part of efforts to promote collaboration and efficiency, one of the first actions of his administration was to merge the Ministry of Local Government with the Ministry of Chieftaincy and Religious Affairs.
“Nananom, your role in safeguarding our cultural heritage, maintaining peace, and advancing development at the grassroots is indispensable,” the President stressed.
He added: “In line with our manifesto commitments, we will strengthen traditional governance structures, improve capacity, and involve you meaningfully in our national decision-making processes.”
President Mahama’s stop in Dambai was part of his regional working tour to thank Ghanaians and update them on progress made since returning to power in January 2025.
