Arise Ghana has commended President John Dramani Mahama’s first year in office for significant economic improvements, noting that inflation has dropped from 23% to 6.3%, providing a buffer against import demands and external pressures.
Marion Gifty Nyaaba, Co-Convenor of Arise Ghana, stated at a press conference assessing the government’s first year that treasury bill rates have decreased to around 11%, making credit more accessible and affordable for businesses.
The restructuring of public debt has reduced immediate repayment pressures and restored fiscal space, signifying Ghana’s economic stabilization.
The cedi has strengthened, trading between 10.4 and 10.6 to a dollar—a remarkable turnaround. This stability is expected to continue, with forecasts predicting single-digit inflation by mid-2026.
The government’s efforts, combined with international partnerships and domestic resilience, have contributed to this progress. Key benefits highlighted include:
Stabilized fuel prices and reduced costs for essentials such as medicines, machinery, and foodstuffs. A stable currency encourages investment, sparking growth and further strengthening the cedi.
Elimination of certain levies and reforms, injecting billions into the economy and boosting disposable income and operational capital for businesses.
Report by Bernard K. Dadzie, Greater Accra Region
Source:
oyerepafmonline.com
