President John Dramani Mahama has described Ghana’s economy as resilient and capable of withstanding external shocks, attributing the stability to prudent management under his administration.
He said the economy, which had previously been vulnerable to developments in the global economic environment, had been stabilised despite international challenges.
President Mahama said this during an accountability engagement in Wa at the weekend as part of his #ResettingGhana Tour of the Upper West Region.
The engagement brought together religious and traditional leaders, heads of departments and agencies, and members of the public, providing a platform for the President to address issues of concern to the people of the region.
“In the past, Ghana’s economy used to stand on broomsticks. As soon as something happens in the world, it comes crashing down. Today Ghana’s economy is standing on concrete pillars, so even when there’s an earthquake, the country is still standing.
“This Iran-Israel-US war, if it had happened some years back, by now the economy would have come crashing down, but happily it’s been well managed,” the President explained.
President Mahama acknowledged that while the economy remained stable, external developments had slowed the pace of progress expected by the Government.
He announced that Government planned to invest GH¢2.5 billion annually in five key sectors of the economy under its proposed “new economy” initiative aimed at creating jobs and opportunities for young people.
He said the Minister of Finance would unveil the initiative in the 2027 Budget Statement, with investments targeted at sectors including pharmaceuticals, agriculture and agro-processing, tourism, and power generation.
“These are not going to be government businesses. Government is not going to set up state-owned enterprises with GH₵2.5 billion a year. It is going to go to the private sector to set up the businesses,” President Mahama indicated.
He, therefore, urged entrepreneurs and private sector operators to take advantage of the opportunities to expand businesses and create employment for the youth.
Touching on constitutional reforms, President Mahama said a Constitutional Review Implementation Committee had been established to begin implementing recommendations made by the Constitutional Review Committee.
He said the Government had already submitted the recommendations and its position paper on the committee’s report to the implementation body.
The President explained that entrenched constitutional provisions recommended for amendment would require a referendum, which was expected to be held alongside the district-level elections.
On education, President Mahama dismissed reports that Arabic and Chinese languages would be introduced into Ghana’s school curriculum as new compulsory subjects.
“Let me disabuse your minds. There is absolutely no new policy that says that Arabic and Chinese are going to be introduced in our school curriculum. I chair Cabinet, and I can tell you, no new curriculum has come for approval by Cabinet,” he said.
Regarding the National Cathedral project, President Mahama said he had no objection to the construction of a national cathedral but maintained concerns about its location and the use of public funds.
He explained that the proposed site was close to Parliament House, the Accra International Conference Centre, the National Theatre and other important public facilities, making it unsuitable for the project.
