Finance Minister, Ato Forson, has stressed that the country’s 2025 budget will be critical in addressing the nation’s economic struggles and setting the stage for long-term recovery.
Speaking in a live youth engagement session on X Spaces, hosted by influencer KalyJay on Sunday, March 9, Forson acknowledged that while there have been recent efforts, Ghana’s economic situation remains fragile. He cautioned that the country is not yet out of the woods. “Let’s not deceive ourselves that the country is out of the woods yet. Our economy is still in distress,” he said, emphasizing the need for urgent measures to stabilize the situation.
Mr.Forson highlighted the government’s commitment to implementing policies that aim to restore economic stability. Key measures include controlling inflation, stabilizing the exchange rate, and creating a more 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.
A major focus of the 2025 budget, according to Forson, will be reducing domestic borrowing. He argued that this would free up more resources for the private sector, which is essential for economic growth. “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 said.
Mr.Forson also addressed concerns about the government’s approach to public engagement. Despite some skepticism, particularly among young people, he assured the public that their input would play a role in shaping the final budget presentation scheduled for March 11. “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,” Forson remarked.
With the budget just days away, Forson’s comments underline the government’s determination to move Ghana toward a more stable and prosperous future—while balancing the need for fiscal discipline with the drive for private sector growth.
Source:TheDotNews