Finance Minister Dr. Cassiel Ato Forson has assured Ghanaians of government’s plan to reduce the fiscal deficit and public debt through cutting spending rather than tax hikes.
Dr. Ato Forson emphasized that the government’s strategy aligns with the sentiments of Ghanaians, as expressed during the recent National Economic Dialogue.
“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!”.
Presenting the 2025 budget before Parliament on Tuesday March 11, 2025, Dr. Ato Forson announced a three-pronged approach described as “shock therapy” to restore economic stability and growth.
The strategy includes recalibrating fiscal adjustments and undertaking comprehensive economic reforms.
“We must align our expenditures with the country’s fiscal realities”.
Dr. Ato Forson stated, “Whoever pays off their debt gets rich.”
