Finance Minister Dr. Cassiel Ato Forson in a youth engagement session on X Spaces has highlighted the crucial role of the 2025 Budget and Policy Statement in stabilizing Ghana’s economy.
Dr. Forson acknowledged the current precarious financial situation and detailed the new administration’s plans to implement policies aimed at fostering economic stability.
“Let me make this point: let’s not deceive ourselves that the country is out of the woods. 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 outlined efforts to control inflation, maintain a stable exchange rate, and create a more predictable economic environment as key components of the government’s approach.
“What we can do is to put together a framework where there will be a stable exchange rate, stable inflation, and a stable economy”.
Dr. Forson also emphasized the government’s plan to reduce domestic borrowing, ensuring that more financial resources are available to the private sector to drive 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.
The first quarter of the 2025 budget presentation is set for March 11, 2025.