In order to stabilize Ghana’s faltering economy, Finance Minister Dr. Cassiel Ato Forson has emphasized the importance of the 2025 Budget and Policy Statement.
Speaking on Sunday, March 9, at a youth engagement session on X Spaces organized by social media influencer KalyJay, Dr. Forson admitted that Ghana’s financial condition is still precarious despite recent efforts.
In order to solve the nation’s economic problems and establish the groundwork for a sustained recovery, he claimed that the budget would be an essential instrument.
“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 resolve to put policies in place that promote economic stability.
Among these actions are initiatives to keep inflation under control, preserve a steady exchange rate, and establish a stable economic 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 further emphasized the government’s intention to lower domestic borrowing in order to increase the amount of money accessible to the private sector.
He emphasized how crucial it is to reduce government spending in order to support economic prosperity and company growth.
“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.
