Economy and development chair highlights positive economic outlook 

The Chairman of the Economy and Development Committee, Dr. Eric Afful, has urged Ghanaians to embrace the current positive trend in the country’s economy.

 He said doing so would help inform better decisions by households, businesses, and government, which is bound by a social contract with the people.

He pointed out to a steady decline in headline inflation, citing data from the Bank of Ghana. 

According to him, inflation dropped by 2.6 percentage points to 21.2 percent in April 2025 and further to 18.3 percent in May 2025. 

He noted that, this has led to a reduction in the prices of goods and services across the country.

He made this statement on the floor of the House when he was presenting highlights of the positive trend of the economy of Ghana. 

He also referred to recent fiscal reports showing that as of the end of March 2025, Ghana’s public debt stood at GHS 769.4 billion, representing 55 percent of GDP. 

This marks an improvement from December 2024, when the debt stock was GHS 726.7 billion or 61.8 percent of GDP.

Dr. Afful also highlighted the strong rebound of the cedi against major trading currencies, attributing the development to a combination of tight monetary policy and ongoing fiscal consolidation measures.

He encouraged Ghanaians to support the government in achieving the financial and economic targets outlined in the 2025 Budget Statement and Economic Policy.