Kwakye Ofosu says Ghana’s economy has rebounded under Mahama’s first year

The Minister for Government Communications, Felix Kwakye Ofosu, has asserted that Ghana’s economy has recorded a significant turnaround within President John Dramani Mahama’s first year back in office, placing the country in a far stronger position than when the National Democratic Congress (NDC) assumed power.

Speaking in an interview on TV3 on Sunday, January 4, Mr Kwakye Ofosu said key economic indicators are showing steady improvement, signalling renewed stability and stronger overall performance.

He noted that economic management was the dominant concern for voters during the 2024 general elections, making the recent gains particularly significant. According to him, an objective assessment would show that the economy is now on a much better footing than it was a year ago.

The Government Communications Minister said the NDC administration has delivered on its promises, stressing that the progress made is clear and measurable when current conditions are compared with those inherited at the start of the administration.

He further pointed to improvements in living standards, citing a reduction in the cost of living, falling prices of goods, and a marked strengthening of the cedi.

Mr Kwakye Ofosu added that the local currency, long a major source of concern, is on course to record an annual appreciation of nearly 30 per cent — a development he described as unprecedented in recent years — with the stability contributing to lower prices across several sectors of the economy.