Dr. Cassiel Ato Forson, Ghana’s Finance Minister, underscores the significance of the 2025 Budget in restoring economic stability amidst ongoing financial challenges. He outlines measures such as controlling inflation and reducing borrowing to empower the private sector, while confirming that public consultations will inform policy decisions.
Finance Minister Dr. Cassiel Ato Forson has asserted that the upcoming 2025 Budget and Policy Statement is crucial for stabilizing Ghana’s struggling economy. During a youth engagement session on X Spaces, hosted by influencer KalyJay, he recognized that despite recent attempts, the financial condition of the country remains unstable.
Dr. Forson stated, “Let’s not deceive ourselves that the country is out of the woods yet. Our economy is still in distress.” He emphasized the need for immediate measures to restore the desired economic stability and outlined the new administration’s dedication to policies aimed at fostering this stability, including controlling inflation and maintaining a stable exchange rate.
“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 noted. He also emphasized the government’s goal of reducing domestic borrowing to ensure that more financial resources are available for the private sector to promote business growth.
Dr. Forson remarked, “It is very critical for the government to cut expenditure and reduce its appetite for borrowing.” This strategy is intended to free up resources that the private sector can utilize to expand operations and stimulate economic development.
In his recent discussions with traders from Accra’s Central Business District, he reassured the public, particularly the youth, that such consultations will significantly influence government policies. He countered claims of superficiality regarding these engagements and affirmed their potential impact on the upcoming budget presentation scheduled for March 11. “I do not take the people of Ghana for granted. I am here because I want to hear your take—ignore the propaganda out there,” he conveyed.
In conclusion, Dr. Cassiel Ato Forson emphasizes that the 2025 Budget will play a pivotal role in returning economic stability to Ghana. He advocates for reducing borrowing and fostering a conducive environment for the private sector. The ongoing consultations with citizens, particularly the youth, are integral to shaping effective government policies and addressing the current economic challenges.
Original Source: citinewsroom.com
