John Dramani Mahama has reaffirmed his government’s determination to maintain inflation within single digits, following a significant decline in the rate to 3.2 percent.
The President described the progress as part of a wider effort to stabilise Ghana’s economy through strict fiscal discipline and responsible financial management. Speaking during a citizen engagement at the University for Development Studies on Sunday, April 19, he noted that inflation has dropped sharply from over 24 percent when his administration assumed office to below 4 percent.
Mahama credited the improvement to deliberate measures aimed at controlling public expenditure and reducing excessive borrowing, particularly at a time when Ghana faces limited access to international capital markets due to its debt situation.
He added that careful management of petroleum prices has also played a key role in cushioning citizens and preventing a resurgence in inflation.
Reaffirming his administration’s commitment, the President stated that maintaining low inflation remains a priority, emphasizing that continued fiscal discipline will be essential to sustaining economic stability.
