President John Dramani Mahama has metaphorically declared that Ghana’s economy, like a flight, is on the runway, about to take off.
He says the economy is no longer in recovery mode but firmly on the runway, urging citizens to “fasten your seat belts” as the country accelerates into a new phase of growth and stability.
President Mahama made this declaration during his State of the Nation Address (SONA) in Parliament on Friday, as Ghana prepares to mark its 69th Independence Anniversary. The President struck an optimistic and forward-looking tone, emphasizing that the country’s resurgence is both measurable and meaningful.
Growth with Discipline
The core of this take-off, he touted, was a strong macroeconomic performance narrative. He revealed that Ghana’s Gross Domestic Product is expected to reach $113 billion in 2025, positioning the country among the ten largest economies on the continent.
For the first three quarters of the year, GDP growth was reported at 6.1 percent, a figure he says presented as evidence that the reset agenda is translating into real expansion.
However, he was quick to add that growth alone was not enough. He touted the importance of fiscal and monetary discipline, which complemented the growth.
He pointed to a primary surplus of 2.6 percent of GDP, significantly above the 1.5 percent target. The fiscal deficit, he added, was closed at 3.1 percent, below the projected 3.8 percent.
This, he says, wasn’t accidental but a mark of a government keeping its promise to protect the public purse.
Borrow Less, Build More
President Mahama tied the improved fiscal metrics directly to the everyday experience of businesses and households.
By borrowing less and managing expenditure more responsibly, he said, the government has created space for lower interest rates and renewed private sector confidence.
He enumerated that interest rates are falling. Confidence has returned. Private businesses are breathing again, all fueling the country’s economic take-off.
This means that, for entrepreneurs, manufacturers, and investors who have grappled with high borrowing costs and macroeconomic uncertainty in recent years, stability is returning, and with it come opportunities.
The Bottomline
The President emphasized that the “Reset Ghana” agenda is not aspirational rhetoric but a working framework producing tangible results. He described it as a coordinated effort built on sound policy, responsible governance, and inclusive growth, aimed not just at improving headline figures, but at improving lives.
As Ghana approaches its independence milestone, he said the nation does so with renewed confidence, not only proud of its past, but assured about its future.
Together, he argued, the reforms underway are laying the foundation for a stronger, more resilient, and more prosperous Ghana.