Novihoho Afaglo, a prominent figure within the National Democratic Congress (NDC), has expressed his admiration for President John Dramani Mahama’s recent economic policies, which he claims have dramatically revitalized Ghana’s economy. Afaglo noted that the nation was facing severe financial challenges during the previous administration of Akufo-Addo, particularly in 2024, but has since experienced remarkable recovery.
According to Afaglo, the revival of Ghana’s economy can be largely credited to strategic policy initiatives introduced by President Mahama, including the so-called ‘Reset Agenda’ and a 24-hour economy plan that aims to enhance productivity. He emphasized that these measures have not only fostered economic growth but have also provided solid fiscal evidence of improvement, particularly highlighting the strengthened position of the Ghanaian cedi in foreign exchange markets.
Data indicates that the cedi, which had previously struggled against the US dollar, saw a notable rise in value, climbing from approximately GH¢17.00 to about GH¢10.35 within a short timeframe, earning accolades from Bloomberg as the best-performing currency globally at one point during 2025.
Afaglo pointed out that inflation rates have also seen a considerable drop, decreasing from over 23% at the end of 2024 to 6.5% by December 2025. This reduction has alleviated financial strain on families and businesses alike, reflected in the decreasing costs of essential goods, including fuel and cement.
In addition, Afaglo mentioned the removal of several taxes that had been established under the previous government, such as the e-levy and various other tax measures, aligning with Mahama’s campaign promises to lessen the financial load on citizens and enterprises.
Furthermore, he asserted that the national debt has been reduced by nearly GH¢150 billion, attributing this to the cedi’s appreciation and effective fiscal policies implemented by the current administration. In terms of economic performance, Afaglo reported a substantial growth rate of 6.1% during the first three quarters of 2025, marking it as one of the most significant growth periods in recent history.
