Finance Minister Dr. Cassiel Ato Forson has emphasised the pivotal role of the 2025 Budget and Policy Statement in stabilising Ghana’s struggling economy.
Speaking during a youth engagement session on X Spaces, hosted by social media influencer KalyJay on Sunday, March 9, Dr. Forson described the budget as a crucial tool to address the country’s economic challenges and lay the groundwork for long-term recovery.
Despite recent efforts, Dr. Forson acknowledged that Ghana’s financial situation remains fragile and cautioned against complacency.
“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.
Plan for economic stability
Dr. Forson outlined the government’s commitment to implementing policies aimed at fostering economic stability. Key measures include controlling inflation, maintaining a stable exchange rate, and creating 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 explained.
The Finance Minister also stressed plans to reduce domestic borrowing, ensuring that more financial resources are made available to the private sector.
He stressed 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 said.
Public engagement
Dr. Forson recently engaged traders at Accra’s Central Business District, where he assured the public, particularly the youth, that their input would be considered in shaping government policies.
He dismissed suggestions that such engagements were merely symbolic and would not influence 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.
Collective effort
The Finance Minister called for collective effort in tackling the nation’s economic woes and stressed that the road to recovery will require sacrifices from all — government, businesses, and citizens alike.
“Together, we can restore stability and build a stronger economy for future generations,” he said.