President John Dramani Mahama has revealed that Ghana’s economy has, for the first time, exceeded the $100 billion mark — a development he says positions the country among Africa’s leading economic powers.
Addressing Parliament during the 2026 State of the Nation Address, the President described the milestone as evidence of steady recovery and expansion across multiple sectors of the economy within his first year in office.
“Broad-Based and Comprehensive” Growth
According to President Mahama, the growth is not limited to a single industry but reflects improvement in agriculture, services, industry, and trade. He characterized the progress as “broad-based and comprehensive,” stressing that economic gains have been recorded nationwide.
Crossing the $100 billion GDP benchmark is widely regarded as a significant economic indicator, often associated with stronger investor confidence, increased market size, and improved global competitiveness.
Cedi Records Strong Gains
A key highlight of the President’s address was the performance of the Ghanaian cedi. He reported that the currency has appreciated substantially against major international currencies:
•40.7% against the US dollar
•30.9% against the British pound
•24% against the euro
“We did not just arrest currency instability; we strengthened the cedi to put up a good fight against other currencies,” President Mahama told lawmakers.
The currency’s recovery, he indicated, reflects fiscal consolidation measures, improved foreign exchange inflows, and tighter monetary coordination.
Surpassing the $100 billion GDP mark could enhance Ghana’s standing within Africa’s economic landscape, alongside some of the continent’s largest economies. Economists often view such milestones as signals of expanding production capacity and greater resilience, though sustaining growth will depend on continued macroeconomic discipline and private-sector expansion.
While government officials tout the achievement as a turning point, analysts note that long-term stability will hinge on maintaining currency strength, controlling inflation, and ensuring that growth translates into job creation and improved living standards for citizens.
The announcement marks one of the headline claims of President Mahama’s 2026 address, as his administration seeks to project economic recovery and renewed investor confidence.
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Source: Africa Publicity
