President John Dramani Mahama has assured Ghanaians that they can expect further encouraging news in the mid-year budget review, which is scheduled for presentation in August.
During a durbar in Wa on Thursday, May 15, as part of his thank-you tour, Mahama discussed the government’s commitment to stabilising the economy and expressed his belief that the nation is progressing in the right direction.
Since assuming office, Mahama stated that the government’s primary objective has been to stabilise the economy. He elaborated that the budget introduced to Parliament in March was crafted to significantly reduce expenditure, with the intention of reallocating saved funds to priority sectors, as outlined in the government’s manifesto.
“I am pleased to inform you that our efforts to stabilise the economy have started to bear fruit,” Mahama remarked, noting the improved performance of the local currency and a gradual decrease in the prices of goods and services as indicators of success.
The President acknowledged the contributions of the Minister of Finance and the Governor of the Bank of Ghana for their leadership and close collaboration in facilitating the economic recovery.
He praised their teams for their hard work and emphasised that the government’s coordinated strategy has been crucial to the progress made so far. “I wish to commend the Honorable Minister of Finance and the Governor of the Bank of Ghana, along with their teams, for the close collaboration and coordination they are displaying in this economic turnaround,” Mahama added.
The President expressed confidence that by the time the Minister of Finance presents the mid-year budget review in August, Ghanaians will have even more positive news to anticipate.
“I am certain that by the time the Honorable Minister returns to Parliament to present his mid-year review budget in August, we will have even more good news for Ghanaians,” Mahama concluded.
His comments come as Ghana’s economic indicators reflect steady improvement, rekindling optimism about the country’s economic prospects.
