Prez Mahama expresses confidence in Ghana’s economic resilience amid global tensions

President John Dramani Mahama has expressed strong confidence in Ghana’s economic recovery, assuring citizens that the country’s improved macroeconomic fundamentals position it to withstand external shocks, including ongoing international conflicts.

Speaking at the groundbreaking ceremony for a 24-hour economy model market at Dormaa-Ahenkro in the Bono Region on Wednesday, the President highlighted significant economic gains achieved under his administration over the past year.

“We are absolutely confident that the economy can withstand external pressures, including the Israel-United States war against Iran,” President Mahama stated, emphasising the resilience of Ghana’s economic rebound.

The President cited notable improvements in key economic indicators, revealing that inflation has declined sharply from 23.4 per cent to 3.3 per cent. He also announced that the Ghana cedi had strengthened considerably, moving from between GH¢16 and GH¢17 to approximately GH¢10.70 against the US dollar.

“Without a resilient economy, any external shock will have severe consequences, and it’s therefore important that we sustain the gains made over the past year,” he stressed.

Regional accountability tour

The President is currently in the Bono Region as part of his ‘Regional Accountability Series’, which includes addressing a durbar of chiefs and people, inspecting ongoing GETFund educational projects, and assessing progress on key road infrastructure.

Projects under review include the Jinijini-Sampa Road and the Sunyani Outer Ring Road, which form part of the government’s “Big Push” infrastructure programme.

Traditional council commends government

Osagyefo Oseadeeyo Agyemang Badu II, Paramount Chief of the Dormaa Traditional Area and President of the Bono Regional House of Chiefs, commended the government for what he described as sound economic management.

“I know you have been in office for just over a year now, but you have done well, especially with the forex situation, and Ghanaians appreciate that,” the chief remarked.

He also praised visible progress on several road projects across the region, including the Sunyani Outer Ring Road, the Berekum-Sampa Road, the Berekum-Seikwa Road, the Sunyani-Abesim dualisation project, as well as the Wamfie-Gambia Road and Dormaa-Nkrankwanta Road.

Outstanding projects

Despite the commendation, Osagyefo Badu II urged the government to expedite work on stalled projects, including the Dormaa-Ahenkro-Aboabo Road under the cocoa roads programme, which began in 2013 but remains incomplete.

He also appealed for the rehabilitation of the 12-kilometre Dormaa-Ahenkro-Gonokrom Road linking Ghana and Côte d’Ivoire, noting that while the Ivorian side is in good condition, the Ghanaian stretch remains deplorable.

Additionally, the paramount chief called for the resumption and completion of the Agenda 111 District Hospital project at Amasu and other parts of the country initiated by the previous administration, as well as expanded infrastructure at both the main campus of the University of Energy and Natural Resources (UENR) and its Dormaa-Ahenkro campus.

The 24-hour economy model market project at Dormaa-Ahenkro is expected to boost commercial activity and create employment opportunities for residents in the Bono Region.