By Finance Minister Dr Cassiel Ato Forson has highlighted the importance of the 2025 Budget. This statement is crucial for stabilising Ghana’s struggling economy.
He asserted that the budget would be crucial in addressing the country’s economic challenges. It would lay the foundation for long-term recovery.
Dr Forson spoke during a youth engagement session on X Spaces. The session was hosted by social media influencer KalyJay, on Sunday, March 9. He acknowledged that, despite recent efforts, Ghana’s financial situation remains fragile.
He cautioned against complacency. He stated, “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. The first thing we need to do is take measures to bring us back to the stability 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 create a framework. This framework will have a stable exchange rate. It will also ensure stable inflation and a stable economy,” he added.
Dr Forson further emphasised the government’s plan to reduce domestic borrowing. This plan will ensure 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. He promised that their input would be taken into account. This would help in shaping government policies.
He dismissed suggestions that such engagements were merely symbolic. He argued that they would 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.
