Mahama Points to Economic Stability, Announces Direct Funding Boost for Local Assemblies

DAMANGO – By Seth Yeboah

President John Dramani Mahama says Ghana is showing clear signs of economic stability, citing falling inflation, a stable currency, and stronger foreign reserves that he says will help the country withstand external shocks.

Speaking at the ‘Resetting Ghana’ citizen engagement in Damango, Mahama attributed the improved outlook to recent government measures aimed at restoring macroeconomic discipline.

“Inflation has declined significantly, the currency remains stable, and our reserves have strengthened,” the President told residents. “This gives us the resilience needed against external shocks.

”Mahama also announced a major shift in how the District Assemblies Common Fund is disbursed, saying 80% of the fund will now go directly to local assemblies. He said the change is designed to speed up development at the grassroots level.

According to the President, the direct release of funds has improved timeliness and allowed districts to independently undertake projects, including schools, CHPS compounds, and 24-hour markets across the country.

Turning to regional development, Mahama stressed the need for balanced investment nationwide. He outlined targeted plans for the Savannah Region, including a new science and technology university, a 300-bed regional hospital, upgrades to water systems, expansion of road networks, and increased electricity access.

The ‘Resetting Ghana’ engagement forms part of the government’s effort to solicit citizen input on national priorities and track progress on development commitments.