Ghana’s Finance Minister, Dr. Cassiel Ato Forson, emphasizes the importance of the 2025 Budget in stabilizing the economy. Despite past efforts, he acknowledges ongoing economic distress and outlines plans for inflation control, stable exchange rates, and reduced domestic borrowing to support the private sector. He discredits claims that citizen engagement is merely symbolic, underscoring genuine consultation in policy-making.
Dr. Cassiel Ato Forson, Ghana’s Finance Minister, has highlighted the significance of the 2025 Budget and Policy Statement in addressing the nation’s economic difficulties. During a youth engagement hosted by influencer KalyJay, he stressed that despite various attempts, Ghana’s economic condition remains fragile. He said, “Let us not deceive ourselves that the country is out of the woods yet. Our economy is still in distress…” emphasizing the need for immediate measures to restore stability.
Dr. Forson detailed the government’s commitment to policies aimed at fostering economic stability, notably controlling inflation and maintaining a stable exchange rate. He stated that creating a predictable economic environment is essential and affirmed, “What we can do is to put together a framework where there will be a stable exchange rate, stable inflation, and a stable economy.”
Moreover, he reiterated the administration’s objective to decrease domestic borrowing, thereby allowing greater financial resources for the private sector, which will, in turn, stimulate business growth. He asserted, “It is very critical for the government to cut expenditure and reduce its appetite for borrowing… there will be a lot more resources for the private sector to benefit from.”
After recent meetings with traders in Accra’s Central Business District, Dr. Forson reassured young citizens that these discussions would help shape government policies. He refuted claims that these engagements were mere formalities, affirming, “I do not take the people of Ghana for granted… I want to hear your take—ignore the propaganda out there.”
In conclusion, Finance Minister Dr. Cassiel Ato Forson has positioned the 2025 Budget as essential to Ghana’s economic recovery. His focus on stabilizing the economy through controlled inflation and exchange rates, along with decreased domestic borrowing, highlights a strategic approach to fostering private sector growth. Engagement with citizens is crucial to informing policy, ensuring that the government remains accountable and responsive to the people’s needs.
Original Source: citinewsroom.com
