President John Dramani Mahama has reiterated his government’s commitment to maintaining single-digit inflation after the rate declined sharply to 3.2 percent.
Speaking at a citizen engagement at the University of Development Studies on April 19, the President described the drop as a key milestone in efforts to stabilise the economy.
Mr Mahama noted that inflation has fallen significantly from levels above 24 percent when his administration assumed office. He attributed the improvement to deliberate fiscal measures aimed at restoring macroeconomic stability.
“When we came into office, inflation was running above 24%; it has been brought down to under 4%, and we intend to keep it there.” - President John Dramani Mahama
Fiscal Discipline Driving Stability
The President emphasised that disciplined public spending and cautious borrowing have been central to the gains recorded so far, particularly at a time when Ghana’s access to international capital markets remains limited.
He also highlighted government interventions in petroleum pricing as part of efforts to shield consumers and prevent inflationary pressures from resurging.
“We’ve been able to manage the petroleum prices… to cushion our citizens and prevent inflation from going back up,” he added.
The government says it will continue implementing prudent financial policies to consolidate progress and ensure long-term economic stability, with inflation control remaining a key priority.
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