President John Mahama has touted Ghana's economy as one of the best in the world despite global challenges.

According him prudent economic measures put in place by the country's economic management team has ensured that the Ghanaian economy remains resilient.

Addressing a durbar of chiefs and people of Akwamufie in the Eastern Region as part of his “Accounting to the People" tour, the President noted that the economic situations in many countries worldwide are in crisis due to the fall in the world market price for crude.

“Almost every country is facing financial challenges; some of them are as a result of the fall in the world market price for oil, so countries like Saudi Arabia today are implementing austerity measures, increasing the prices of petroleum products and utilities.

“It's not only Saudi but countries with huge foreign reserves of billions of dollars are facing financial challenges. Our own neighbour Nigeria is having economic problems because of the world prices of oil,” he explained.

He stated that some countries that had no oil but are commodity exporters have suffered setbacks as a result of the slow in China.

“The prices of copper and cocoa have collapsed, the prices of many commodities have collapsed and so their economies are facing challenges,” he noted.

The President's three-day tour of the Eastern Region is to inspect ongoing projects, commission completed projects undertaken by his administration and break grounds for the commencement of new ones.

The tour will also afford him the opportunity to interact with chiefs and community residents and account for his stewardship since he assumed office as the President, barely three years ago.

President Mahama began his visit to the region by paying a courtesy call on the paramount chief of Manya Krobo. Chiefs, elders and opinion leaders as well as teeming NDC supporters and government officials were there to lend their support and welcome the President.

Most of them could not hide their excitement when the President arrived at the forecourt of the Manya Krobo chief's palace where a durbar was held to welcome him.

Welcoming the president, Nene Asadahor, the chief of Akuse and spokesperson of the traditional council who spoke on behalf of the Konor, Nene Sackitey II , commended government for the massive infrastructure development it has executed in Kroboland.

He mentioned the construction of several road networks and the expansion of educational and health infrastructure among many others.

Expressing gratitude for the unflinching support he has received from the people of Krobo over the years, President Mahama assured residents of government's assistance in all fields of the country's economy.

On the establishment of the first public university in the Eastern Region to train potential tertiary students in fields of Agricultural and environmental science, President Mahama noted that the school will adopt research as its focus for farmers in the area to benefit.

He added that in his next term of office his government will focus on training the youth to acquire hands-on to turn the economy around.

At AKwamufie, the Paramount chief, Odeneho Kwafo Akoto II, enumerated some challenges facing his area.

President Mahama will continue his tour of the region tomorrow. He is expected to interact with residents and commission several projects in the Akyem area.