Finance Minister Dr Cassiel Ato Forson emphasised the importance of the 2025 Budget and Policy Statement in fixing Ghana’s faltering economy.
He said the budget will be a critical tool in tackling the country’s economic issues and establishing the groundwork for long-term recovery.
Speaking during a youth engagement event on X Spaces sponsored by social media influencer KalyJay on Sunday, March 9, Dr. Forson admitted that, despite recent efforts, Ghana’s financial condition remained shaky.
He warned against complacency, saying, “Let me make one point: let us not delude ourselves that the country is out of the woods yet. Our economy is still in distress, and the first thing we must do is take steps to restore the stability that we deserve.”
He highlighted the government’s commitment to pursuing policies that promote economic stability.
These policies include efforts to keep inflation under control, maintain a stable currency rate, and foster a predictable economic environment.
“What we can do is to put together a framework where there will be a stable exchange rate, stable inflation, and a stable economy,” according to him.
Dr. Forson underlined the government’s intention to reduce domestic borrowing while increasing financial resources accessible to the private sector. He emphasised the significance of reducing government spending to promote business growth and economic expansion.
“It is vital that the government decrease spending and lower its appetite for borrowing. As a result, the private sector will have access to significantly more resources,” he emphasised.
Following his recent meeting with traders in Accra’s Central Business District, Dr Forson told the public, particularly the youth, that their feedback would be considered in crafting government policy.
He disputed claims that such meetings were purely symbolic and had no bearing on the final budget presentation due for March 11.
“I never take the people of Ghana for granted. I am not here because I just wanted to. I am here to hear your perspective—ignore the lies out there,” he stated.
