Cutting waste key to economic recovery – Pres Mahama

President John Dramani Mahama has described Ghana’s economic recovery under the National Democratic Congress (NDC) government as “phenomenal”, attributing the progress to fiscal discipline, reduced government waste and prudent management of public resources.

The President made the remarks during the second day of his “Accounting to the People” tour in Bolgatanga in the Upper East Region, where he engaged traditional rulers, religious leaders, civil society organisations, the media and education stakeholders.

President Mahama used the engagement to highlight what he described as significant gains made since the NDC returned to power about one-and-a-half years ago, while outlining government’s plans to sustain the recovery and expand investment in productive sectors.

According to President Mahama, government’s decision to reduce waste and unnecessary expenditure had played a major role in restoring stability to the economy.

He noted that the government did not submit a single loan agreement to Parliament throughout 2025, describing the development as evidence of its commitment to prudent fiscal management.

Cutting down waste and related unnecessary expenditure has helped in this recovery. The whole of last year (2025), we did not send any loan agreement to Parliament. Not even one loan agreement,” he said.

The President said the government had also relied significantly on Internally Generated Funds (IGF) to finance its programmes and development initiatives.

He noted that, until June 2026, the government had not sent a loan agreement to Parliament.

The first major loan agreements submitted during the period, he explained, included the $300 million World Bank STARR-J project, aimed at helping to end the double-track system in senior high schools, and a $500 million Feeder Roads project.

President Mahama said the administration was focused on achieving full economic stabilisation while creating jobs and expanding opportunities, particularly for young people.

As part of its economic strategy, President Mahama disclosed that Finance Minister Dr Cassiel Ato Forson would present a policy dubbed “The New Economy” to Parliament.

The policy will focus on investment in seven selected sectors, with government planning to invest $2.5 billion annually over the next four years.

That translates into a planned $10 billion investment programme over the four-year period.

Agriculture and agro-processing are expected to receive the largest share of the investment.

President Mahama said half of the planned $10 billion—approximately $5 billion—would be allocated to agriculture and agro-processing.

So $5 billion is going to go into agriculture and agro-processing, and I can assure you the Upper East Region is going to get its fair share of that $5 billion,” he said.

He said the investment would support irrigation development and create opportunities for young people to engage in agricultural production throughout the year, including during the dry season.

President Mahama said his government intended to position the Upper East Region as a major agricultural hub, with increased investment in irrigation, food production and agro-processing.

He disclosed that government would accelerate implementation of the Tomato Revitalisation Project to improve production and enable farmers to supply quality tomatoes to the domestic market.

The President also announced plans to accelerate work on the Tamne Irrigation Dam project in Tempane, which he said would support dry-season farming across five districts and a municipality in the eastern part of the region.

The project is expected to increase agricultural production, particularly onion cultivation.

President Mahama said the government wanted to reduce Ghana’s dependence on imported onions from Niger by increasing domestic production.

The expansion of irrigation infrastructure, he added, would allow farmers to cultivate crops throughout the year and improve food security while creating additional employment opportunities.

The government's infrastructure agenda in the region also received attention, with the Minister of Roads and Highways, Kwame Governs Agbodza, representing President Mahama at a sod-cutting ceremony for the construction of the Tongo-Sheaga-Pelungu road in the Talensi District.

The road project is being undertaken under the government's Big Push infrastructure programme.

Mr Agbodza urged residents to exercise patience as preparations were made for construction to commence.

He said the completed road would help address longstanding transportation difficulties and improve connectivity for residents and businesses in the area.

The Upper East Regional Minister, Donatus Atanga Akamugri, said the region had recorded significant development during the period under review.

According to him, more than 253 physical development projects had been implemented across the region.

He attributed the progress to what he described as the government's sound economic management and its commitment to directing resources towards development projects.

The projects span various sectors, including roads, education, health and other areas of social and economic development.

President Mahama's announcement of the $10 billion investment programme, particularly the planned $5 billion allocation to agriculture and agro-processing, is expected to place agricultural transformation at the centre of the government's economic strategy over the next four years.

For the Upper East Region, the focus on irrigation, tomato production and onion cultivation could provide opportunities to expand year-round farming, create jobs for young people and reduce Ghana's dependence on imported food products.