In a bold move to restore Ghana’s economic stability, Finance Minister Dr. Cassiel Ato Forson has unveiled a comprehensive plan to slash the fiscal deficit and public debt.
Presenting the 2025 Budget Statement to Parliament, Dr. Forson emphasized the government’s commitment to fiscal discipline.
Ghanaians have been vocal about their desire for a more sustainable approach to managing the country’s finances. “Mr. Speaker, Ghanaians, through the recent National Economic Dialogue, have expressed a clear desire for the fiscal deficit and public debt to be reduced through cuts in government spending rather than through only tax measures. We wholeheartedly agree!” Dr. Forson stated.
The minister’s words were echoed by a timeless wisdom: “Whoever pays off their debt gets rich.
” This phrase underscores the importance of responsible debt management in achieving economic prosperity.
To achieve this goal, the government has outlined a robust strategy, starting with the 2025 budget. The plan includes recalibrating fiscal adjustments and implementing economic reforms described as “shock therapy” to restore stability and growth. This bold approach is expected to yield positive results and put Ghana’s economy on a path to sustainable growth.