President John Dramani Mahama has said that the nation’s credibility has been restored on the international stage as a creditworthy nation for investment and doing business.
This, he said, reflects the impact of prudent fiscal policies and measures the Government had put in place.
Presenting his 2026 State of the Nation Address (SONA) to Parliament, the President said the Government would uphold global norms, but they would not outsource their own interests in external power.
“Mr Speaker, undoubtedly about the depth of the challenges we had inherited across, nowhere was this national malaise more evident than in the economic sector. We inherited an economy in severe crisis, currency from unimaginable hardship caused by years of general imprudence and reckless management of the economy,” he said.
“That recovery would not come easily. But I was also clear that I will stop at nothing to turn this situation around and bring relief to Ghanaians.” 
President Mahama said, he promised Ghanaians that just as they had confronted and overcame crisis in the past, he would reset their economy and return them to a path of growth, progress and development.
“That would have to take tough, prudent and necessary decisions to restore stability and credibility. Today, Mr Speaker, I can say to you with confidence, Ghanaians are open for business. Acceleration is very clear to everyone,” he said.
He said they improve payable 2024 commitment, credibility and discipline, to deliver somewhat in decades, adding that they did so not only with pride in their policy, responsible governance and inclusive growth.
President Mahama said they were restoring hope by delivering on their promises and proving that good leadership makes a measurable difference in our people’s lives.
He said it reflected the tangible transformation they had delivered for the Ghanaian people.
The gross domestic product (GDP) was expected to reach $113 billion, an increase from $83 billion at the end of 2024, noted that this had placed Ghana among the top 10 largest economies in Africa, he said.
“This GDP growth for the first three quarters of 2025 was nothing without discipline, President Mahama said.
He said their primary surplus reached 2.6 per cent of GDP, “exceeding our target of 1.5 per cent. We are well below the projected, if not prudent, governance. It is promise-keeping, responsibly, inter-breeding again.” 
The President said Ghana declared its inability to honour its debt obligations, which had become a shackle on its economic progress.
“It is clear that interestingly, between 2025 and 2028, we restructured obligations and we pursued bilateral agreements,” the President said.
“From $82.1 billion to GDP from 61.8 per cent to 45.3 per cent. This is one of the sharpest growths in Ghana’s history.”
The President said at the New Year celebration on January 2nd, when people were still poor, $4 billion in debt service reached Moody’s and Standards and Poor.
“All upgraded Ghana’s credit ratings, the first triple upgrade in many years. Ghana’s credibility is restored. Ghana is rising,” the President said.
“The heaviest burden we inherited was the very high inflation rate, which was slightly, silently eroding every household’s purchasing power. It peaked at 54.1 per cent at the end of 2022. By the end of 2024,” reiterating that they treated this with urgency.
He said through fiscal consolidation, currency stabilisation and disciplined monetary policy, inflation fell from 23.5 per cent at the end of 2024 to 3.8 per cent over 10 years and that inflation fell by 26.6 percentage points.
President Mahama said inflation for locally produced goods fell by 22.6 percentage points; adding that these translate into the reality of a parent being able to put food on the table for their children.
He said it translates into the reality of businesses thriving and creating opportunities for Ghana’s young people.
“Mr Speaker, GH¢15.2 to GH¢10.7 cedis per litre 10-cedi mark to GH¢9.9 mark. From GH¢15.4 to GH¢11.3. And this brought relief to our nation’s 3.7 million car owners and the tens of millions of Ghanaians who depend on transport daily.”
“Mr Speaker, to the interesting part. Exchange rate volatility in Ghanaian households. Stability is a priority and we have delivered. A cedi to put up a good fight. A cedi appreciated by 40.7 per cent against the US dollar, against the British Pound, and against the Euro,” he said.
He said members of the Ghanaian economy had witnessed remarkable improvement in their first year in office.
He said it was projected to place Ghana among the top 10 largest economies in the world: 13.8 billion dollars, from 8.9 billion dollars at the end of 2024.
The President said a key driver of this development had been the establishment of the Ghana Gold Board.
GNA
