2025 Budget Fundamental for Ghana’s Economic Stabilization

Dr. Cassiel Ato Forson emphasized that the 2025 Budget will be vital for economic recovery in Ghana. He discussed the need for stable economic policies and reduced borrowing to support the private sector. Forson assured that public engagement, especially with the youth, will shape governmental policies ahead of the budget presentation on March 11.

Finance Minister Dr. Cassiel Ato Forson has asserted that the upcoming 2025 Budget and Policy Statement is crucial for stabilizing Ghana’s economy amid ongoing challenges. During a youth engagement session on X Spaces, moderated by social media influencer KalyJay, he characterized the current financial landscape as precarious, despite the government’s previous efforts to rectify the situation.

Dr. Forson expressed the need for realistic assessments: “Let us not deceive ourselves that the country is out of the woods yet. Our economy is still in distress,” he stated, underscoring the urgency of taking corrective measures to achieve stability. He outlined the administration’s pledge to enforce policies aimed at managing inflation, ensuring a steady exchange rate, and cultivating a predictable economic atmosphere.

In addition, Dr. Forson reiterated the intention to diminish domestic borrowing, thereby increasing the availability of financial resources for the private sector to stimulate business development. “It is crucial for the government to cut expenditure and reduce its appetite for borrowing,” he emphasized, indicating that such actions will free up capital for private enterprise growth.

After engaging with traders in Accra’s Central Business District, Dr. Forson reassured citizens, particularly the youth, about the significance of public consultations in guiding government policies. He refuted claims that these discussions were mere formalities, noting they would indeed inform the budget presentation scheduled for March 11. “I do not take the people of Ghana for granted,” he affirmed, expressing his commitment to incorporating public feedback into governance decisions.

In summary, Finance Minister Dr. Cassiel Ato Forson has highlighted the importance of the 2025 Budget as a key avenue for stabilizing Ghana’s economy. His focus on reducing domestic borrowing, managing inflation, and fostering consultations with the youth indicates a proactive approach towards economic recovery. The forthcoming budget presentation is anticipated to reflect these objectives and public input, as emphasized by Dr. Forson.

Original Source: citinewsroom.com