President John Mahama has reaffirmed his administration’s commitment to maintaining inflation within single digits, following a significant decline to 3.2 percent. Speaking at a citizen engagement event at the University of Development Studies on April 19, he highlighted the progress made in stabilising Ghana’s economy.
Mahama noted that inflation had exceeded 24 percent when his government assumed office but has since dropped to below 4 percent. He attributed the improvement to strict fiscal discipline, including controlled public spending and reduced reliance on borrowing, particularly amid limited access to international capital markets.
The President also pointed to efforts to manage petroleum prices as a key factor in cushioning citizens and preventing a resurgence in inflation. He emphasised that sustaining low inflation remains central to the government’s broader economic stabilisation strategy.