Finance Minister Dr Cassiel Ato Forson has underscored the significance of the 2025 Budget and Policy Statement in stabilising Ghana’s struggling economy.
He asserted that the budget would serve as a crucial tool in addressing the country’s economic challenges and laying the foundation for long-term recovery.
Speaking during a youth engagement session on X Spaces, hosted by social media influencer KalyJay, on Sunday, March 9, Dr Forson acknowledged that, despite recent efforts, Ghana’s financial situation remains fragile.
He cautioned against complacency, stating, “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 outlined the government’s commitment to implementing policies aimed at fostering economic stability.
These measures include efforts to control inflation, maintain a stable exchange rate, and create 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,” he added.
Dr Forson further emphasised the government’s plan to reduce domestic borrowing, ensuring that more financial resources are made available to the private sector. He highlighted the importance of curbing government expenditure to facilitate business growth and economic 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 engagement with traders at Accra’s Central Business District, Dr Forson assured the public, particularly the youth, that their input would be taken into account in shaping government policies.
He dismissed suggestions that such engagements were merely symbolic and would not influence the final budget presentation scheduled for 11 March.
“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.
Myjoyonline