A leading member of the ruling National Democratic Congress (NDC), Mr. Novihoho Afaglo has commended President John Dramani Mahama’s impressive and unexpected performance of Ghana’s economy.
The NDC leader stated that the remarkable recovery of Ghana’s economy, which was on the brink of collapse during the Akufo-Addo-Bawumia administration in 2024, is now among the fastest-growing economies globally.
He noted that the current positive economic indicators are due to Mahama’s effective new policies, including the “Reset Agenda,” the 24-hour economy initiative, and sound fiscal management.
Mr. Afaglo mentioned that the current government not only improved the economy but also provided fiscal proof of this rapid turnaround through the appreciation of the cedi and other factors.
He pointed out that the Ghana Cedi, which had been struggling against the dollar, made significant gains against the US dollar, rising from about GH₵17.00 to roughly GH₵10.35 in just a few months.
This remarkable performance was recognized by Bloomberg as the best-performing currency in the world at one point in 2025.
Regarding inflation, he emphasized that the cedi has significantly decreased from over 23% at the end of 2024 to 8.5% in November 2025, relieving pressure on households and businesses.
“The cedi’s appreciation and the decline in inflation have led to lower prices for some goods, such as fuel and cement, offering relief to citizens.
He disclosed that several controversial taxes, including the e-levy, the 10% betting tax, and the emissions tax, were eliminated as promised during the campaign, aimed at reducing the financial burden on Ghanaians and businesses.
Based on the cedi’s appreciation and President Mahama’s strategic fiscal policies, the national debt burden was reportedly reduced by nearly GH₵150 billion, mainly due to the cedi’s appreciation and effective fiscal strategies.
On the topic of economic growth, Mr. Afaglo stated that the economy reportedly grew by 6.1% in the first three quarters of 2025, marking the fastest growth since.