President John Dramani Mahama has attributed the Ghanaian Cedi’s recent recovery to a surge in foreign exchange inflows and strategic economic policies aimed at ensuring stability.
He pointed out that the local currency’s strength is largely supported by Ghana’s growing gross international reserves, which increased from $8.9 billion in December 2024 to $10.6 billion by April 2025. This rise, he noted, is a reflection of both increased investor confidence and enhanced external financial buffers.
Speaking at the Ghana–EU Business Forum in Accra on May 20, President Mahama reaffirmed the government’s commitment to meeting its economic growth targets for the year.
The forum, focused on expanding trade and investment in non-traditional value chains under the EU Global Gateway Strategy, brought together key stakeholders from Ghana and the European Union.
Highlighting progress in fiscal consolidation, Mahama reported a reduction in the fiscal deficit, which dropped from 7.5% of GDP in 2024 to 6.4% in the first half of 2025. The government is on track to meet the 2025 target of 3.1% through expenditure rationalization, improved domestic revenue collection, and stringent anti-corruption efforts.
“These early signs of fiscal discipline signal a path to inclusive economic recovery. Our trade relations with the EU remain strong and mutually beneficial,” he stated.
Looking ahead, Mahama reassured both local and international investors of Ghana’s commitment to creating a secure, transparent, and business-friendly environment. “Under this administration, we are working to restore confidence in our public procurement systems, uphold contract sanctity, and protect investor rights through both domestic and international legal frameworks,” he added.
