Strong foreign exchange inflows and intentional policy measures meant to stabilise the economy have been credited by President John Dramani Mahama with the recent recovery of the Ghanaian Cedi.
Recipes for Ghanaian cuisine The President claims that strengthened gross international reserves, which increased from $8.9 billion in December 2024 to $10.6 billion by April 2025, are a major factor in the local currency’s improved performance.
He pointed out that improved external financial buffers and rising investor confidence are the causes of this upward trend.
President Mahama emphasised the government’s resolve to achieve its annual economic growth goals during his remarks at the Ghana–EU Business Forum opening in Accra on Tuesday, May 20.
Key stakeholders from Ghana and the EU attended the forum, which had as its theme “Deepening Ghana-EU Cooperation on Trade and Investment in Non-Traditional Value Chains under the EU Global Gateway Strategy.”
“Fiscal consolidation is underway, we have reduced the fiscal deficit on commitment basis, from 7.5% of GDP in 2024 to 6.4% in the first half of 2025, and we are on track to meet our 2025 end year of 3.1% through expenditure rationalisation, improve domestic revenue mobilization and strong anti corruption measures”,
“These figures, though early in the year, are clear signs of discipline and inclusive economic recovery. Our trade with the European Union remains robust and neutrally beneficial,” he emphasized.
President Mahama built on the promising economic outlook by assuring domestic and foreign investors of his administration’s dedication to creating a safe and supportive investment environment.
“I assure all potential investors that under this administration, Ghana is committed to transparent Governance, policy predictability and a reformed business environment,
We are restoring confidence in our public procurement systems, enforcing contract sanctity and protecting investor rights under both domestic and international legal regimes,” he also mentioned.
Ghana|Atinkaonline.com|Najat Adamu