President John Dramani Mahama has asserted that
Ghana’s economy is showing signs of recovery under his administration as the GDP has grown to $113 billion in 2025, with a 6.1% growth rate in the first three quarters.
The primary surplus is at 2.6%, exceeding the target of 1.5%, while the fiscal deficit is at 3.1%, below the target of 3.8%.
Some key economic highlights include:
Debt Management: Debt-to-GDP ratio has decreased from 61.8% to 45.3%, with credit ratings upgraded by Fitch, Moody’s, and S&P.
Inflation: Down to 3.8% in January 2026 from 54.1% in 2022, with lower fuel prices and a stronger cedi (up 41% vs USD).
Reserves: $13.8 billion, covering 5.7 months of imports, with a current account surplus of $9.1 billion.
The government has implemented relief measures, including:
Tax Relief: E-levy, betting, and emissions taxes cut, with VAT down, returning GH¢6 billion to households and businesses.
Job Creation: Approximately 1 million jobs created (Q1-Q3 2025), with 950,000 people lifted out of multidimensional poverty.
Productivity and sector moves include:
24-Hour Economy: Authority Bill passed with GHS 110 million allocation.
Energy: Arrears cleared, Tema Oil Refinery online, and renewable power increased (285 MW, plus 200 MW solar start).
