The Minister of Finance-designate, Dr. Cassiel Ato Baah Forson, has promised to focus the attention of the government on the microeconomy and the real sector.
Speaking during his appearance at the Appointments Committee of Parliament on Monday, he said the government will grow the economy from the real sector, not just from the micro.
“As Minister, I will dedicate a considerable amount of my attention towards the development of the microeconomy,” Dr. Ato Forson said.
He mentioned that his priorities for the development of the country’s real sector include agriculture and agribusiness, micro, small and medium enterprises, power, petroleum and hydrocarbons, infrastructure, and mining and quarry.
On revenue mobilization, Dr. Ato Forson said his many years of experience in public financial management tell him that Ghana has a lot of potential when it comes to revenue mobilization.
He stated that the government will introduce strong compliance measures in Ghana’s tax administration to improve revenue collection. “We will promote transparency and accountability to build public trust and encourage compliance,” the Minister of Finance-designate said.
Dr. Forson added that he will regularly engage businesses, civil society, and development partners to fashion inclusive revenue strategies that consider the needs and contributions of all sectors.
“We shall also focus on non-tax revenue, which has often been neglected but has immense potential,” he said.
Touching on public expenditure, Dr. Ato Forson said Ghana needs a paradigm shift in the management of public expenditure.
He therefore promised to lead a public expenditure management reform to decentralize budget implementation, adding, “This is to make sector ministers wholly responsible for their own budgets.”
Dr. Ato Forson said the quality of expenditure matters. “To this end, I will ensure that public expenditures that drive inclusive growth and job creation are prioritized, especially given our current economic conditions,” he said.