President John Dramani Mahama has said Ghana’s economic transformation has occurred faster than he anticipated, attributing the rapid progress to what he described as the grace of God and prudent economic management.

According to him, he initially envisaged that it would take at least two years for the country to experience significant economic recovery, but the pace of change has been quicker than expected.

"In my own imagination, I thought that we would need about two years to begin to see a turnaround, that is what I thought, but Ebenezer, this is how far God has brought us," he said.

Speaking on key economic indicators, the President highlighted improvements in inflation, the stability of the cedi and other macroeconomic fundamentals as evidence of Ghana’s strengthening economic outlook.

"To bring inflation from 23.8 per cent to 5.4 per cent in one year, how did we manage that? For the first time, to see our long-suffering Ghanaian currency, the cedi, that has been beaten over the years, for the first time to see the cedi appreciate by 37 per cent in one year, it is only God, it is by his grace."

"God has been good to us, and so as a nation, we must be grateful to him," he said.

The president was speaking during the 23rd Anniversary and Thanksgiving service of First Sky Construction Company in Accra on Sunday, January 25.