Ghana’s Finance Minister-designate, Dr. Cassiel Ato Forson, has pledged to bring the country’s inflation down to single digits through targeted fiscal measures, with a key focus on reducing government expenditure.

During his vetting on January 13, Dr. Forson outlined plans to stabilize the economy by curbing unnecessary spending and reducing reliance on borrowing. He set an inflation target of 8%, saying, “By implementing strong fiscal measures, particularly on the expenditure side, we can reduce inflation to around 8%, plus or minus two percent.”

Dr. Forson emphasized the need for fiscal discipline to restore confidence in the economy. “When financing is scarce, we must look internally and cut wasteful spending. We cannot continue to rely on borrowing,” he said.

A key part of his strategy involves reducing government waste. “I will lead efforts to cut unnecessary spending and work with Parliament to ensure that we stay within our financial limits,” he added.

To address Ghana’s broader fiscal challenges, Dr. Forson also highlighted the importance of collaborating with international development partners, including the African Development Bank, World Bank, and International Monetary Fund, to access cheaper financing for critical development projects.

“We will work with our development partners to secure affordable financing that supports sustainable growth,” he concluded.

Source:TheDotNews