Finance Minister Dr. Cassiel Ato Forson has emphasized the significance of the 2025 Budget and Policy Statement in stabilizing 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 acknowledged that despite recent efforts, the country’s financial situation remains fragile.
“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 cautioned.
Dr. Forson outlined the government’s commitment to implementing policies aimed at fostering economic stability, 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 added.
He also stressed the need to reduce domestic borrowing, ensuring that more financial resources are available to the private sector. According to him, curbing government expenditure is critical to facilitating 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 noted.
Following his recent engagement with traders at Accra’s Central Business District, Dr. Forson assured the public—particularly the youth—that their input would be considered in shaping government policies. He dismissed claims that such engagements were merely symbolic.
“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.
Dr. Forson is expected to present the 2025 Budget and Policy Statement on March 11.
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