Finance Minister vows 2025 Budget will restore economic stability

The Minister of Finance, Dr Cassiel Ato Forson has stated that the 2025 Budget and Policy Statement will be pivotal in stabilising Ghana’s fragile economy, warning that the country remains in financial distress despite recent interventions.

Speaking during a youth engagement session on X Spaces, hosted by social media influencer KalyJay on Sunday, March 9, Dr Forson urged Ghanaians not to assume the nation’s economic crisis was over.

“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,” he stated.

He outlined the government’s commitment to policies aimed at stabilising the economy, including measures to control inflation, maintain a stable exchange rate, and create a predictable economic environment.

“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 added.

Dr Forson also stressed the need to curb excessive government borrowing to free up financial resources for the private sector, a key driver of economic growth.

“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 noted.

Following his recent engagement with traders at Accra’s Central Business District, Dr Forson reassured the public, particularly the youth, that their concerns would be considered in shaping government policies. He dismissed claims that such consultations were merely for show and would not impact the final budget presentation scheduled for March 11.

“I do not take the people of Ghana for granted. I am not here because I just wanted to. I am here because I want to hear your take—ignore the propaganda out there,” he affirmed.