President John Dramani Mahama has reaffirmed his government’s commitment to keeping inflation within single digits, following a significant drop in the rate to 3.2 per cent.
He said the decline reflects a broader effort to stabilise the economy through disciplined fiscal management and prudent financial planning.
Speaking during a citizen engagement at the University for Development Studies on Sunday, April 19, the President noted that inflation, which stood above 24 per cent when his administration assumed office, has now fallen to below 4 per cent.
According to him, the improvement is the result of deliberate policies aimed at controlling public expenditure and reducing excessive borrowing, especially at a time when Ghana’s access to international capital markets remains limited due to its debt challenges.
“We’ve been able to manage petroleum prices so that we cushion our citizens and prevent inflation from going back up to the levels that we came to meet it.
“When we came into office, inflation was running above 24%; it has been brought down to under 4%, and we intend to keep it there. We have done this by just being fiscally disciplined,” he stated.
The President emphasised that sustaining these gains remains a top priority as government works to maintain economic stability and protect households from rising costs.
ALSO READ:
