Dr. Cassiel Ato Forson emphasized the critical role of the 2025 Budget in stabilizing Ghana’s economy. He acknowledged ongoing financial challenges and outlined plans for controlling inflation, ensuring a stable exchange rate, and reducing government borrowing to benefit the private sector. Engagements with citizens are being prioritized to inform policy decisions ahead of the final budget presentation scheduled for March 11.
Finance Minister Dr. Cassiel Ato Forson has asserted that the 2025 Budget and Policy Statement will be crucial for stabilizing Ghana’s struggling economy. He made this statement during a youth engagement session on X Spaces, hosted by social media influencer KalyJay, acknowledging that Ghana’s financial situation remains delicate despite current efforts.
Dr. Forson emphasized the need for realistic acknowledgment of the economic challenges, stating, “Let’s not deceive ourselves that the country is out of the woods yet. Our economy is still in distress… measures to bring us back to stability are necessary.” He detailed the administration’s commitment to implementing policies focused on controlling inflation, maintaining a stable exchange rate, and fostering a predictable economic environment.
He noted the importance of creating a framework that ensures a stable exchange rate and economic conditions. Furthermore, he stressed the government’s intention to reduce domestic borrowing, which would liberate resources for the private sector to stimulate business growth.
Dr. Forson highlighted, “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 also reassured the youth of the importance of public consultations in shaping government policies, dismissing claims that these engagements were merely symbolic.
He reinforced his commitment to the citizens by stating, “I do not take the people of Ghana for granted… I want to hear your take—ignore the propaganda out there.” This indicates a proactive approach by the government to involve citizens in the budgetary process, especially in light of the final budget presentation scheduled for March 11.
The 2025 Budget is positioned as a pivotal element for Ghana’s economic recovery, with the government targeting economic stability through controlled inflation and reduced borrowing. The Finance Minister emphasizes direct engagement with the populace to inform policy decisions, reinforcing a commitment to listen to citizen feedback. Overall, the success of these measures hinges on strategic fiscal policies and collaboration between the government and private sector.
Original Source: citinewsroom.com
