The Finance Minister-designate, Dr Cassiel Ato Forson has promised that the John Mahama and Jana Naana Opoku led administration will work hard and return Ghana to a single digit inflation.
Speaking today January 13, 2025 at the Appointments Committee in his vetting the minister designate revealed the new government will roll out series of programs to stabilize the economy, including bringing inflation down to a single digit.
Dr. Ato Forson said “I believe if we are to introduce strong measures, particularly from the expenditure side, we will be able to bring inflation down to 8% plus or minus two. In doing so, we will be able to reopen the domestic bond market so that we can move away from the over-reliance on the treasury bill market”.
He noted that another intervention to be rolled out by the new government is to cut down on expenditure.
“If you are confronted with a situation where you do not have financing, then there is a need for you to look within. Let’s deal with expenditure, let’s cut expenditure, let us not pretend that there is money there for us. Just like it has been done somewhere, we can also do it here”.
“My proposal is let’s look at the expenditure side as well; it shouldn’t always be borrowing and borrowing. It is time for us to cut the waste, and so I will lead the process to cut the waste, and I will need the honourable members to cut the waste so that we live and stay within the envelope that we can” he ephazised.