By: Baba Mohammed Issahaq
The Chairman of Parliament’s Economy and Development Committee, Hon. Dr. Eric Afful, has painted an optimistic picture of Ghana’s economic trajectory, citing key indicators that point to ongoing recovery and stability.
Addressing Members of Parliament on the floor of the House on Tuesday 14 July, Dr. Afful called on Ghanaians to embrace the signs of economic improvement and allow them to inform better financial decisions at the household, business, and national levels.
“The data is clear, we are seeing a steady decline in headline inflation,” he said, referencing figures from the Bank of Ghana. Inflation dropped from 21.2 per cent in April to 18.3 per cent in May 2025, a trend he said is already being felt in the form of lower prices of goods and services across markets.
Dr. Afful also highlighted encouraging signs in the country’s debt position. As of March 2025, Ghana’s public debt stood at GHS 769.4 billion, equivalent to 55 per cent of GDP. This, he noted, reflects a marked improvement compared to December 2024, when the debt was GHS 726.7 billion or 61.8 per cent of GDP.
He pointed to a strengthened Ghana cedi, which has rebounded against major international currencies. According to him, this is largely due to tight monetary policy by the Bank of Ghana and the government’s ongoing fiscal consolidation efforts.
“The economic outlook is promising,” Dr. Afful said. “But to stay on this path, we must all commit to the measures outlined in the 2025 Budget. Progress requires partnership between government and the people.”
He concluded by urging the public to remain supportive of the government’s efforts to restore full macroeconomic stability and growth, assuring that continued discipline and cooperation will lead to greater economic resilience in the months ahead.
