Mahama Pledges to Sustain Single-Digit Inflation
John Dramani Mahama credits fiscal discipline for sharp decline in inflation
President John Dramani Mahama has reaffirmed his government’s commitment to maintaining inflation within single digits, following a significant drop to 3.2 per cent.
Speaking during a citizen engagement at the University of Development Studies on April 19, the President noted that inflation, which stood above 24 per cent when his administration took office, has now fallen to below 4 per cent.
He attributed the decline to deliberate efforts to control public spending and limit excessive borrowing, particularly at a time when Ghana faces restricted access to international capital markets due to debt challenges.
Mahama also highlighted measures to manage petroleum prices as part of efforts to cushion citizens and prevent a resurgence in inflation.
“We’ve been able to manage the petroleum prices so that we cushion our citizens and prevent inflation from going back up… we intend to keep it there,” he said.
He emphasised that continued fiscal discipline will be key to sustaining the gains made in stabilising the economy.
