Finance Minister Dr. Cassiel Ato Forson has indicated that the 2025 Budget is pivotal for stabilizing Ghana’s economy. He highlighted ongoing economic distress and outlined plans for inflation control and reduced domestic borrowing to support the private sector. Engagements with the public are set to inform policy decisions, ensuring that the upcoming budget reflects the needs of citizens.
Finance Minister Dr. Cassiel Ato Forson has emphasized that the 2025 Budget and Policy Statement is crucial for stabilizing Ghana’s ailing economy. During a youth engagement session hosted by social media influencer KalyJay, Dr. Forson expressed concern that, despite recent efforts, the nation’s economic situation continues to be precarious.
He stated, “Let me make this point: let’s not deceive ourselves that the country is out of the woods yet. Our economy is still in distress, and the first thing we will need to do is to take measures to bring us back to the stability that we deserve.” The minister also outlined the administration’s commitment to fostering economic stability through specific policies, such as controlling inflation and maintaining a stable exchange rate.
Dr. Forson affirmed the administration’s intent to create a reliable economic environment, saying, “What we can do is to put together a framework where there will be a stable exchange rate, stable inflation, and a stable economy.” In addition, he emphasized plans to reduce domestic borrowing to provide more financial resources for the private sector, which is vital for business growth and economic expansion.
He urged the government to cut expenditure and lessen its borrowing appetite, stating, “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.” Dr. Forson reassured the public, particularly the youth, that recent consultations would influence policy decisions, countering claims that such engagements were merely symbolic prior to the budget presentation scheduled for March 11.
In conclusion, Finance Minister Dr. Cassiel Ato Forson has articulated the significance of the 2025 Budget for Ghana’s economic recovery. His commitment to fostering a stable economic environment, reducing domestic borrowing, and engaging with the public reflects a proactive approach to address the current economic challenges. The government’s focus on creating favorable conditions for the private sector indicates a strategic effort to stimulate growth and stability.
Original Source: citinewsroom.com
