President John Dramani Mahama
President John Dramani Mahama has credited the recent appreciation of the cedi to increased foreign exchange inflows and targeted policy interventions aimed at stabilising the economy.
Speaking at the Ghana–EU Business Forum in Accra on Tuesday, May 20, 2025, the President noted that Ghana’s gross international reserves had risen significantly, from $8.9 billion in December 2024 to $10.6 billion as of April 2025, signalling stronger external buffers and growing investor confidence.
“The improved performance of the cedi is a direct result of strengthened reserves and deliberate fiscal measures. The government remains committed to achieving its economic growth targets for the year,” he stated.
President Mahama added, “Fiscal consolidation is underway. We have reduced the fiscal deficit on a commitment basis from 7.5% of GDP in 2024 to 6.4% in the first half of 2025.
“We are on track to meet our end-of-year target of 3.1% through expenditure rationalisation, improved domestic revenue mobilisation, and robust anti-corruption measures. These figures, though early in the year, are clear signs of discipline and inclusive economic recovery. Our trade with the European Union remains strong and mutually beneficial.”
Looking ahead, the President assured both local and international investors of his government’s continued commitment to creating a secure, predictable, and investor-friendly environment, as Ghana pursues inclusive and sustainable economic growth.
The forum, themed “Deepening Ghana–EU Cooperation on Trade and Investment in Non-Traditional Value Chains under the EU Global Gateway Strategy,” brought together key stakeholders from Ghana and the European Union to explore trade opportunities beyond traditional sectors.
SP/MA
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