Ghana’s economy has moved from standing on broomsticks to concrete pillars – Mahama
President John Mahama says Ghana’s economy has moved from being vulnerable to external shocks to becoming more resilient, likening the change to a shift from “broomsticks” to “concrete pillars.”
President John Mahama has expressed his satisfaction with Ghana's economic resilience, comparing the shift from vulnerability to stability to moving from "broomsticks" to "concrete pillars." During a citizens' engagement tour in the Upper West Region, Mahama highlighted that Ghana's economy was once extremely fragile, collapsing easily in response to global economic developments.
He explained that the country's economy was previously akin to being supported by broomsticks, easily toppling with external shocks. In contrast, Mahama emphasized that Ghana's economy now stands on sturdy "concrete pillars," capable of withstanding significant external shocks. He pointed out that the recent Iran-Israel-US conflict, for instance, would have had a far more devastating impact on Ghana's economy in the past.
Mahama stated that despite the challenges posed by global developments, the economy has been effectively managed. He further suggested that Ghana could have achieved a stronger economic growth rate of 7% this year, had it not been for the adverse effects of external factors. Mahama acknowledged that while the economy remains solid, its progress has been hindered by external developments.
Additionally, he announced that preparations for the 2027 Budget have commenced, with budget hearings currently underway.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
