Novihoho Afaglo, a prominent member of the ruling National Democratic Congress (NDC), has praised President John Dramani Mahama for what he described as the “magical” turnaround of Ghana’s economy under his leadership.
Speaking on Wednesday, January 7, Mr. Afaglo said the economy, which had been on the brink of collapse during the Nana Akufo-Addo and Dr Mahamudu Bawumia administration in 2024, is now among the fastest-growing globally.
According to Mr. Afaglo, the remarkable recovery is the result of Mahama’s strategic policy interventions, including the “Reset Agenda,” the 24-hour economy initiative, and prudent fiscal management.
He emphasised that these measures have not only stabilised the economy but also provided tangible proof through improved currency performance and reduced inflation.
He highlighted the Ghana Cedi’s significant appreciation against the US dollar, noting that it rose from approximately GH₵17.00 to around GH₵10.35 in just a few months. Bloomberg, he said, recognised the cedi as the best-performing currency globally at one point in 2025.
Inflation has also dropped sharply, falling from over 23% at the end of 2024 to 6.5% in December 2025, easing the financial burden on households and businesses.
Mr. Afaglo also noted that the government fulfilled campaign promises by scrapping controversial taxes, including the e-levy, the 10% betting tax, and the emissions levy.
These reforms, coupled with currency appreciation, have reduced the national debt burden by nearly GH₵150 billion, he said, reflecting the success of the administration’s fiscal strategies.
On economic growth, he revealed that Ghana’s economy expanded by 6.1% in the first three quarters of 2025, marking the fastest growth recorded in recent years.
He argued that these achievements demonstrate that Mahama’s policies have not only stabilised the economy but also created conditions for sustained prosperity and development.
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Source: www.myjoyonline.com
