Minister for Finance, Cassiel Ato Forson, has expressed confidence in the country’s ability to reset its economy, provided there is discipline in its financial practices.
Speaking at the National Economic Dialogue in Accra, Ato Forson emphasized the importance of fiscal responsibility and commitment to sustainable economic policies, saying “We can reset our economy, we can do this, we just have to be disciplined and understand that the short-term gains today have long-term consequences on our country”.
The National Economic Dialogue, is being held from March 3-4, 2025, brought together various stakeholders to discuss strategies for rebuilding Ghana’s economy amidst challenges such as inflation and debt.
Ato Forson highlighted that the outcomes of the dialogue will find clear expression in the upcoming National Budget, which will be presented on March 11, 2025.
In his speech, Ato Forson acknowledged the significant toll borne by every single Ghanaian due to the economic crisis.
“From severe currency depreciation to hyperinflation, from haircuts to steep tax increases, from rising fuel and electricity prices to soaring interest rates,” he listed.
“Fellow countrymen and women, the economic crisis is not over. Indeed, the full length of our recent crisis is still unraveling by the day”.
Ato Forson emphasized the need for significant sacrifice from all Ghanaians to stem the bleeding and place the economy back on the right trajectory.
He commended President John Dramani Mahama for taking the lead in this effort, citing the reduction of the number of ministers in the government from 123 to 60, significant budget cuts for the Office of the President, and the prohibition of first-class travel by government officials.
The Finance Minister also expressed gratitude to Organised Labour and the Ghana Employers Association for their collaboration in reaching an agreement on the minimum wage and base pay.
He reaffirmed the government’s commitment to transparency, accountability, and good governance.
-BY Daniel Bampoe
