President John Dramani Mahama has declared that Ghana’s economic turnaround is gaining firm ground, crediting tighter fiscal controls and reduced borrowing for the renewed stability in the country.
Presenting the 2026 State of the Nation Address (SONA) on Friday, February 27, the President told Parliament that although his administration assumed office at a time of severe economic strain, decisive measures have helped steady the ship.
“We inherited an economy in severe crisis; Ghana is back working again and open for business,” he said.
The President maintained that the Resetting Ghana agenda is beginning to show measurable impact, describing the current moment as a turning point.
“Our nation is on the runway, in take-off mode, and you are all advised to fasten your seat belts. The hope is real,” he stated.
While highlighting improved growth figures, the President cautioned that expansion without fiscal prudence would be meaningless.
“Growth means nothing without discipline,” he stressed.
Providing figures to support his claims, he announced that the country posted a primary surplus of 2.6 per cent of GDP, surpassing the 1.5 per cent target. He added that the fiscal deficit narrowed to 3.1 per cent, better than the projected 3.8 per cent.
“Mr Speaker, we closed with a fiscal deficit of 3.1 per cent, well below the projected 3.8 per cent. Mr Speaker, this is not just prudent governance; it is promise-keeping, and it has benefited households and businesses. Because we have borrowed less and spent more responsibly, interest rates have fallen, confidence has returned, and private businesses are breathing again.”
According to the President, disciplined spending and reduced reliance on borrowing have eased pressure on interest rates, revived investor confidence, and provided breathing space for businesses and families alike.
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