Ghana’s Economic Turnaround: Cedi Rebounds, Budget Review Shows Promising Recovery- Mahama

In a comprehensive economic briefing during the Oti Regional “Thank you Tour ” address today on Friday 25th July, 2025, the President of the Republic of Ghana H.E John Dramani Mahama disclosed significant improvements in Ghana’s economic landscape, highlighting remarkable progress in budget management and currency stabilization.

Budget and Economic Recovery:

President Mahama discussed the presentation of the mid-year budget review to parliament by the Minister of Finance Hon. Dr. Cassiel Ato Forson yesterday, indicating that, reports positive feedback from Ghanaians on the government’s economic management.

He mentioned the reduction in public debt from 61.8% to 43.8% of GDP in six months. Inflation has declined from 23.8% to 13.7% and is expected to hit single digits by year-end.

“Yesterday, the Hon. Minister of Finance presented the media review budget to parliament on my behalf. This was, has probably been the most anticipated media review budget in recent history. The response so far indicates that Ghanaians are generally satisfied with our government’s economic management over the past 199 days, I’m pleased to report to you that our reset agenda for the national economy is on track.” President Mahama.

“ The economy is showing positive signs of recovery and turning around. The public debt has reduced by over 100 and 13 billion cedis, from 61.8% of GDP at the end of 2024 in just six months, to 43.8% at the end of June, 2025. Inflation has declined from 23.8% in December 2024, to 13.7% in June 2025 and we are expecting that inflation should hit single digits by the end of this year” President stated.

President Mahama emphasized on the appreciation of Ghanaian cedi by over 40% against major international currencies. He noted that, the government aims to maintain a stable currency through fiscal prudence.

“The wonder boy, the Ghana cedi, the show boy, has appreciated by over 40% in value against the major international currencies. And this development has reversed the depreciation in the value of the cedi from 2022 2023 and 2024 and we aim to exercise fiscal prudence to maintain a stable currency.” President Mahama asserted.

The address provides a robust narrative of Ghana’s economic recovery, offering hope and confidence in the government’s economic management strategy.