President John Dramani Mahama has announced that Ghana’s creditibility has been restored, signalling a strong economic recovery.
Delivering the State of the Nation Address (SONA) in Parliament, he explained that the inherited budget deficit fueled a high inflation rate, which severely eroded households’ purchasing power.
He noted that inflation peaked at 54.1% at the end of 2022 but declined sharply to 23.5% by the end of 2024.
The President said the government tackled the crisis with an emergency programme of “fiscal consolidation, currency stabilisation, and strict monetary discipline policy.”
According to him, as a result, “inflation fell from 23.5% at the end of 2024 to 3.8% over the next thirteen consecutive months by January 2026.”
President Mahama highlighted that “very interesting food inflation, the main driver of upward pressure on inflation dropped by 26.6%.”
“Inflation for locally produced goods also fell by 22.6%, he added on Friday, February 27, 2026.
The President stressed that these figures are not mere statistics; they translate into real-life improvements.
“It means a parent can put food on the table for their children,” he said, adding that the economic turnaround is enabling businesses to thrive and creating opportunities for Ghana’s young people.
