ACCRA, Ghana, 27 February: President John Dramani Mahama has announced what he described as a decisive economic turnaround, declaring that Ghana’s Gross Domestic Product (GDP) surged to $113 billion in 2025, up significantly from $83 billion in 2024.
Delivering his 2026 State of the Nation Address before Parliament, President Mahama said the economy is firmly back on a growth trajectory, with average GDP growth of 6.1% recorded across the first three quarters of 2025.
The performance, he noted, positions Ghana among the top 10 largest economies in Africa, marking a strong rebound from the severe economic crisis inherited in 2025.
The President highlighted major gains in macroeconomic stability. Inflation, which peaked at a staggering 54.1% in 2022, has declined sharply to 3.8% as of January 2026, easing pressure on households and businesses.
On the fiscal front, the government exceeded its consolidation targets. The fiscal deficit narrowed to 3.1%, outperforming the projected 3.8%, while Ghana posted a primary surplus of 2.6% of GDP, well above the 1.5% target.
Public debt has also seen a substantial reduction, falling by GH¢82.1 billion, as government undertook aggressive restructuring and disciplined expenditure controls. In 2025 alone, Ghana completed $1.4 billion in debt service payments, including early settlements, restoring investor confidence.
As a result of these reforms, international credit rating agencies like Fitch Ratings, Moody’s, and Standard & Poor’s have all upgraded Ghana’s credit outlook, signaling renewed global confidence in the country’s economic management.
“Ghana is working again and open for business,” President Mahama declared, describing the recovery as evidence that fiscal discipline, structural reforms, and prudent governance are yielding tangible results.
Story by: Emmanuel Romeo Tetteh(#RomeoWrites✍️)/Ahotoronline.com | Ghana 🇬🇭