Minister of Finance, Cassiel Ato Forson, has painted a candid picture of Ghana’s economic growth prospects, indicating that the country’s current trajectory will only lead to Upper-Middle Income status by 2050.
This revelation was made during the National Economic Dialogue held on Monday, March 3, 2025, at the Accra International Conference.
According to Ato Forson, “the economic crisis is not over. Indeed, the full length of our recent crisis is still unraveling by the day.”
He emphasized that the situation requires significant sacrifice from all Ghanaians to stem the bleeding and place the economy back on the right trajectory.
Ato Forson acknowledged the toll of the economic crisis on Ghanaians, citing “severe currency depreciation to hyperinflation, from haircuts to steep tax increases, from rising fuel and electricity prices to soaring interest rates.”
He reiterated the government’s commitment to fiscal discipline and good governance, highlighting measures such as reducing the number of ministers and prohibiting first-class travel for government officials.
The Minister expressed gratitude to Organised Labour and the Ghana Employers Association for their collaboration in reaching an agreement on minimum wage and base pay.
He reaffirmed the government’s commitment to transparency, accountability, and good governance.
-BY Issah Olegor
