According to Dr. Cassiel Ato Forson, minister of finance, stabilizing Ghana’s faltering economy will be greatly aided by the 2025 budget and policy statement.
Despite recent efforts, the nation’s financial condition is still perilous, Dr. Forson recognized at a youth engagement event on X Spaces sponsored by social media influencer 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 incoming administration’s pledge to put measures into place that will promote economic stability, such as initiatives to keep inflation under control, preserve a steady exchange rate, and establish a more 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.
Dr. Forson also restated the government’s intention to lower domestic borrowing in order to give the private sector more access to capital for promoting economic growth and company expansion.
“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 stressed.
Following his recent meeting with merchants in Accra’s Central Business District, Dr. Forson gave the populace—particularly the young people—assurance that these kinds of discussions will influence government policy. He rejected claims that these meetings were only ceremonial and had no bearing on the final budget presentation scheduled for March 11.
“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 affirmed.
Source: Citinewsroom