President John Dramani Mahama
President John Dramani Mahama, has announced that his administration has reduced government borrowing significantly and has exercised fiscal discipline in public spending.
Addressing parliament during the 2026 State of the Nation Address, he said, “We have borrowed less and spent more responsibly.”
He mentioned that the strategy used by his administration is a well advisable economic management to balance the economy and boost financial confidence in the country.
His statement forms part of the broader assessment of the economy and the plan of his administration to strengthen and grow the economy.
In 2025, the total public debt was about GH¢684.6 billion after a decline in the debt stock, in his first administration of his second term the debt to GDP ratio reduced from around 61.8% to about 45.3%.
By Florence Asamoah Adom