Ghana’s government is aiming to reduce inflation to single digits by mid-2026, supported by exchange rate stability and tighter monetary policies.
President John Mahama outlined this vision during his address at the Ghana–EU Business Forum, held at the Kempinski Hotel in Accra.
According to him, Inflation, which peaked at 23.8% at the close of 2024, has begun to decline – reaching 21.2% by April 2025.
The downward trend, he explained, is largely the result of careful fiscal discipline and reduced pressure from both food and non-food prices.
The Ghanaian Head of State emphasised that achieving this inflation target would rely on stricter monetary policy, ongoing fiscal consolidation, and maintaining a stable exchange rate.
He also highlighted a positive shift in Ghana’s external reserves, which rose from $8.9 billion in December 2024 to $10.6 billion by April 2025 – equivalent to five months’ worth of import cover. This improvement, he said, reflects growing export earnings – particularly from gold and non-traditional exports – alongside consistent support from international development partners.
Despite being early in the year, the President noted that current economic indicators show a disciplined and inclusive recovery path.
He reiterated his administration’s dedication to transparency and a business-friendly climate, assuring international investors that the government is upholding contract agreements and taking firm steps to protect investor interests.
