Finance Minister Dr. Cassiel Ato Forson has emphasized the critical role of the 2025 Budget and Policy Statement in stabilizing Ghana’s struggling economy.
He highlighted that the upcoming budget will be an essential tool for addressing the country’s financial challenges and laying the groundwork 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 economy remains fragile.
He cautioned against any false sense of security, stressing that the country is not yet out of economic distress.
“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 take measures to bring us back to the stability that we deserve,” he said.
Dr. Forson outlined the government’s plans to implement policies aimed at stabilizing the economy, including 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 explained.
The Finance Minister further emphasized the need to reduce domestic borrowing and government expenditure to free up financial resources for the private sector, which is crucial for 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.
Dr. Forson also assured the public, particularly the youth, that their voices would be considered in shaping government policies.
He dismissed claims that such engagements were merely symbolic, asserting that their input would directly influence the final budget presentation on 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.
