Ghana’s Economic Recovery Tied to 2025 Budget: Insights from…

Finance Minister Dr. Cassiel Ato Forson has declared the 2025 Budget as vital for stabilizing Ghana’s economy. He acknowledged ongoing financial distress and outlined commitments to controlling inflation, maintaining stable exchange rates, and reducing domestic borrowing to boost the private sector. Dr. Forson emphasized the importance of public engagement in shaping government policy, particularly for youth involvement.

The Finance Minister of Ghana, Dr. Cassiel Ato Forson, has asserted that the 2025 Budget and Policy Statement will be crucial for stabilizing the nation’s economy. During an engagement session with youth on X Spaces, hosted by influencer KalyJay, Dr. Forson acknowledged the ongoing financial challenges facing the country despite recent interventions. He highlighted, “Let’s not deceive ourselves that the country is out of the woods yet. Our economy is still in distress… it is essential to take measures to restore the stability we deserve.”

He emphasized the administration’s dedication to implementing policies targeting economic stability, such as controlling inflation, maintaining a stable exchange rate, and establishing a more predictable economic climate. Dr. Forson remarked, “What we can do is to put together a framework where there will be a stable exchange rate, stable inflation, and a stable economy.”

The Minister also reiterated the government’s intention to reduce domestic borrowing, thereby freeing more financial resources for the private sector, which is critical for business growth and economic expansion. He stated, “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.”

After engaging with traders in Accra’s Central Business District, Dr. Forson reassured citizens, particularly the youth, that these consultations would significantly influence government policies. He firmly dismissed claims that such engagements were merely symbolic and asserted, “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.”

In summary, Finance Minister Dr. Cassiel Ato Forson has underscored the critical role of the 2025 Budget in reviving Ghana’s economy. His commitment to establishing stability, controlling inflation, and limiting government borrowing reflects a strategic approach to enhance economic prospects. Engaging with citizens, especially the youth, demonstrates a dedication to inclusive governance that aims to address the nation’s ongoing financial difficulties. Overall, these efforts signify a proactive stance towards fostering a more resilient economic environment in Ghana.

Original Source: citinewsroom.com