President Mahama's 'magical' policies saving Ghana's economy – Afaglo

A leading member of the ruling National Democratic Congress (NDC), Novihoho Afaglo, has commended President John Dramani Mahama for what he described as an impressive and unexpected turnaround of Ghana’s economy.

According to him, Ghana’s economy, which he said was on the brink of collapse during the Akufo-Addo administration in 2024, is now among the fastest-growing economies globally.

Afaglo attributed the recovery to what he described as effective policy interventions by President Mahama, including the “Reset Agenda,” the 24-hour economy initiative, and improved fiscal management.

He said the current administration has not only improved economic performance but has also provided measurable fiscal evidence of the turnaround, citing the appreciation of the cedi among key indicators.

Afaglo noted that the Ghana cedi, which had struggled against the US dollar, recorded significant gains, appreciating from about GH¢17.00 to approximately GH¢10.35 within a few months.

He said the performance earned recognition from Bloomberg, which at one point in 2025 ranked the cedi as the best-performing currency in the world.

On inflation, Afaglo stated that the rate declined significantly from over 23 per cent at the end of 2024 to 6.5 per cent in December 2025, easing pressure on households and businesses.

He added that the appreciation of the cedi and the decline in inflation have led to reduced prices for some goods, including fuel and cement, providing some relief to consumers.

Afaglo also disclosed that several taxes introduced under the previous administration—such as the e-levy, the 10 per cent betting tax, and the emissions tax—had been scrapped, in line with campaign promises aimed at reducing the financial burden on individuals and businesses.

He further claimed that the national debt burden had been reduced by nearly GH¢150 billion, largely due to the appreciation of the cedi and what he described as prudent fiscal strategies by the Mahama administration.

On economic growth, Afaglo said the economy expanded by 6.1 per cent in the first three quarters of 2025, describing it as the fastest growth recorded in recent years.