Finance Minister calls for immediate implementation of economic reforms

The Minister of Finance, Dr Cassiel Ato Forson, has urged the swift implementation of key recommendations from the National Economic Dialogue (NED 2025), emphasising that the time for discussion is over and action must begin immediately.

Speaking at the dialogue’s closing session, he asserted that Ghana already understands its economic challenges and the solutions required. What remains, he said, is the collective resolve to implement them.

“Most of the presentations actually feed into the first presentation I made. It clearly shows the connections and understanding that together we understand the situation and the problems of this country. What is left is the resolve to come together and to fix it,” he stated.

While acknowledging that implementation is the greatest challenge, he stressed that the government alone cannot drive the necessary reforms without the active support of the public.

“Implementation is the challenge; we can only implement as a government if we get the buy-in of the citizens.”

Dr Forson announced that the 2025 Budget Statement and Economic Policy, set to be introduced on March 11, would begin addressing the concerns raised during the dialogue.

However, he called on stakeholders to support the government in ensuring the success of these reforms.

“What I would like to say is that beginning the 11th of March, the government will introduce the 2025 Budget Statement and Economic Policy. Most of the concerns you’ve raised, you’ll begin to see them in the budget.

"But don’t leave the government alone. We call on you to support the government in educating the public, for the public to understand that the time has come for us to reset and reform the economy. We’ve got to do this together," he added.

Reflecting on the discussions, Dr Forson highlighted the interconnectedness of the economy’s various sectors, including governance and corruption, and stressed the urgency of reform.

“And so clearly, what I can say is most striking to me, particularly sitting there quietly, is that interconnectedness between the macro group to the private sector, to infrastructure, to all the other sectors, even to the governance and the corruption sub-sectors, is the need for us to do major reforms.”

Dr Forson reaffirmed his commitment to ensuring that the dialogue’s recommendations shape government policy, using the final communiqué as his guiding document.

“The solution is there, we know the problems, we know what we have to do to resolve the problems. Let’s start the implementation.

"So I will wait for the communiqué, and I can use the communiqué as my Bible, going into the preparation of the budget and to make recommendations to Cabinet for adoption and approval for us to input into the budget," he said.