President John Mahama has stated that the country is steadily regaining its economic footing, declaring that Ghana has returned to stability and is functioning effectively once more.
Delivering his State of the Nation Address (SONA) on Friday, February 27, President Mahama said his government has prioritised rebuilding the economy and restructuring key sectors. He also criticised the previous administration, accusing it of poor economic management.
Addressing Parliament, he reminded members of his earlier commitment to steer the nation out of crisis.
“Mr. Speaker, I was clear from the outset that recovery would not come easily, but I was also clear that I’ll stop at nothing to turn this situation around and bring relief to Ghanaians. I promised then that just as I have confronted and overcome crisis in the past, I will reset our economy and return us to a path of growth, progress, and development,” he said.
He further noted that difficult but necessary measures were unavoidable in the effort to restore confidence and stability.
“Mr. Speaker, I told this august House then, when I appeared before you last year that we would have to take tough, prudent, and necessary decisions to restore stability and credibility,” he added.
The President expressed confidence that the country is now making tangible progress, describing Ghana as operational again and attractive to investors.
“Today, Mr. Speaker, I can say to you with confidence, Ghana is back. Ghana is working again. And Ghana is open for business. The fundamentals are improving, and the path to sustained acceleration is very clear to everyone,” he stated.
He outlined steps taken by his administration to address economic challenges, explaining that fiscal discipline was a central focus from the beginning.
“From the outset, we resolved to choose discipline over waste, reform over excuses, and stability over speculation. As a responsible government, our first order of business was to halt the economic haemorrhaging and restore order to our public finances. We tightened expenditure and commitment controls,” he said.
President Mahama assured citizens that reforms would continue, with the aim of sustaining economic stability, driving long-term growth, and improving living standards across the country