President John Dramani Mahama says his administration is actively implementing regulatory and institutional reforms aimed at promoting transparency, reducing inefficiencies, and expanding Ghana’s fiscal base.
According to him, these reforms are part of a broader agenda to strengthen governance systems and create sustainable economic growth.
“We’re also pursuing regulatory and institutional reforms that promote transparency, reduce inefficiencies, and expand our fiscal base. We appreciate the EU’s ongoing support in public financial management, domestic revenue reform efforts, and anti-corruption. All these are essential pillars for sustainable growth,” the President said.
He made the comments while speaking at the Ghana-European Union Partnership Dialogue on Tuesday, June 17.
President Mahama also announced that his government’s prudent economic management is beginning to bear fruit, as reflected in Ghana’s improved credit rating by Fitch.
“These efforts are yielding fruits, and only yesterday, the Fitch rating agency upgraded Ghana’s credit outlook to B- stable,” he said.
He noted that the partnership between the Ministry of Finance and the Bank of Ghana has been crucial in stabilising the cedi, managing inflation, and pushing forward with debt restructuring to create more fiscal space.
“With equity, innovation and dignity in macroeconomic recovery and fiscal governance, Ghana’s economic outlook is rebounding steadily. My administration remains committed to restoring macroeconomic stability through prudent fiscal management, enhanced domestic revenue mobilisation, and expenditure rationalisation,” he said.
“Working in partnership with the Bank of Ghana, we are stabilising inflation, stabilising the cedi, and pursuing debt restructuring strategies to restore confidence and rebuild the fiscal space for development,” President Mahama added.
