The Presidential Candidate for the National Democratic Congress (NDC) John Dramani Mahama, has outlined an economic strategy aimed at stabilising Ghana’s economy, with a focus on curbing inflation, creating sustainable jobs, and fostering long-term growth. Amidst the nation’s economic challenges, which have been exacerbated by global crises, Mahama’s plan seeks to reposition Ghana as a competitive and resilient economy in Africa.
Central to the economic policy is a commitment to controlling inflation, which has significantly eroded the purchasing power of Ghanaians. As of August 2024, Ghana’s inflation rate stood at 20.9% for July, from highs of over 50% some two years ago. The NDC’s policy document outlines measures to strengthen the Bank of Ghana’s capacity to maintain price stability, aiming to consistently meet inflation targets. This approach, the NDC says will create a more predictable economic environment, restore investor confidence, and stabilise the cedi.
The blueprint also places a strong emphasis on job creation, particularly for the youth. Recognising the crucial role of Small and Medium Enterprises (SMEs) in driving economic growth, the policy framework proposes substantial support for these businesses. This includes access to affordable credit, capacity-building programmes, and incentives to encourage innovation and entrepreneurship.
The NDC ‘s economic strategy aims to address the immediate needs of Ghanaians while laying the groundwork for sustainable economic development, ensuring that the nation is better equipped to navigate future challenges.
