The 2025 Budget and Policy Statement would be crucial in stabilizing Ghana’s shaky economy, according to Finance Minister Dr. Cassiel Ato Forson, who also cautioned that the nation is still in financial hardship despite recent measures.
Dr. Forson cautioned Ghanaians against assuming the country’s economic crisis was over during a youth engagement session on X Spaces on Sunday, March 9, which was hosted by social media star KalyJay.
“Let me make this point: let’s not deceive ourselves that the country is out of the woods yet. Our economy is still in distress, and the first thing we will need to do is to take measures to bring us back to the stability that we deserve,” he stated.
He described the government’s commitment to economic stabilization policies, which include steps to keep inflation under control, preserve a stable currency rate, and establish a predictable business climate.
“What we can do is to put together a framework where there will be a stable exchange rate, stable inflation, and a stable economy,” he added.
In order to free up funds for the private sector, which is a major engine of economic growth, Dr. Forson also emphasized the necessity of reducing excessive government borrowing.
“It is very critical for the government to cut expenditure and reduce its appetite for borrowing. In doing so, there will be a lot more resources for the private sector to benefit from,” he noted.
After meeting with merchants in Accra’s Central Business District, Dr. Forson assured the populace—especially the young people—that their issues would be taken into account when formulating public policy. He denied assertions that the discussions were just ceremonial and would not affect the March 11 final budget presentation.
“I do not take the people of Ghana for granted. I am not here because I just wanted to. I am here because I want to hear your take, ignore the propaganda out there,” he confirmed.
Source: newsthemegh.com