President signals economic recovery, citing Cedi strength and infrastructure plans.

President John Dramani Mahama expressed optimism about Ghana’s economic recovery on Thursday, citing the strengthening cedi and expected positive news in the upcoming mid-year budget review.

During a thank-you durbar in Wa, the capital of the Upper West Region, Mahama attributed the improved economic outlook to his government’s stabilisation efforts.

“I’m happy to report that our efforts to stabilise the economy have started to show results, evident in the improved performance of our local currency and a gradual reduction in prices of goods and services,” Mahama said.

He specifically highlighted the recent appreciation of the cedi against the US dollar, a key indicator often scrutinised by Ghanaian businesses and consumers.

While acknowledging progress, analysts caution that sustained recovery will require continued fiscal discipline and diversification of the economy beyond traditional commodities such as cocoa and gold.

Mahama commended the collaborative efforts of Finance Minister Dr Ato Forson (MP) and the Governor of the Bank of Ghana, Dr Johnson Asiamah, in managing the economic turnaround.

“I wish to commend the Minister for Finance and the Governor of the Bank of Ghana for their close collaboration in this economic turnaround,” he stated.

“I’m sure that by the time the Honourable Minister presents his mid-year review budget in August, we’ll have more good news for Ghanaians,” Mahama said, raising expectations for potential policy changes or economic forecasts.

President Mahama also unveiled his ambitious infrastructure plan under the ‘Big Push’ programme. He announced that the cabinet will soon approve several priority projects, including the dualization of major highways, such as the crucial Accra-Kumasi and Accra-Takoradi roads, aimed at alleviating congestion and improving transportation efficiency, and the construction of major bridges to enhance connectivity and accessibility.

The ‘Big Push’ infrastructure programme, according to the president, would create jobs and stimulate economic growth across various sectors.