The Minister for Finance, Dr Cassiel Ato Forson, has admitted that Ghana is grappling with serious fiscal challenges, stressing the need for urgent and decisive action.
Speaking at the opening session of the National Economic Dialogue on Monday, March 3, he highlighted the country’s fragile economic state and the pressing need for sustainable financial management.
Dr Forson pointed out that the government’s ability to meet its financial obligations remains under strain due to high debt levels, revenue shortfalls, and rising expenditure.
He emphasised that addressing these challenges requires a collective effort from all stakeholders.
Dr Ato Forson also stressed the need for prudent economic management and structural reforms to prevent a relapse into instability.
He highlighted concerns such as inflation, currency volatility, and fiscal
constraints, which continue to pose risks to Ghana’s economic recovery.
“While we have taken steps towards stabilising the economy, we must be clear that our crisis is not over. We still have difficult decisions to make to ensure long-term stability,” he stated.
He further noted that the dialogue serves as a crucial platform for stakeholders to reflect on past economic missteps and propose practical solutions.
According to him, addressing Ghana’s economic challenges requires collective action, discipline, and a commitment to sound financial policies.
“This forum gives us the opportunity to reflect on where we have come from, assess where we stand, and determine the best path forward,” he added.
Dr Ato Forson assured that the government remains committed to implementing policies that promote economic resilience and sustainable growth.
He urged all participants to contribute meaningfully to the discussions, stressing that the outcome of the dialogue would be instrumental in shaping Ghana’s economic future.
Dr Forson highlighted the dialogue as a crucial platform for reflection, acknowledging both past economic missteps and opportunities for growth.
He stressed that the discussions would provide a roadmap for a more resilient and prosperous economy, ensuring that lessons from previous financial policies inform future decision-making.
“This dialogue is therefore an opportunity to reflect on our economic reality, address the challenges, and chart a course towards a more prosperous future for our citizens,” he stated.
“It is my hope and prayer that the lessons that will emerge from these conversations will guide our steps and that we may not repeat the mistakes of the recent past.”
The Finance Minister assured stakeholders that the government is committed to implementing the recommendations from the dialogue.
He reiterated that the insights gained would be instrumental in shaping policies, fostering economic stability, and setting the country on a sustainable path toward growth and development.
Read the full presentation here:
Content by : Eric Ayettey
