Finance Minister Dr. Cassiel Ato Forson has painted a grim picture of Ghana’s economy, describing it as being in “deep crisis.”
Presenting the much-anticipated 2025 budget statement in Parliament on Tuesday, March 11, Dr. Forson acknowledged the severe economic challenges inherited from the previous administration.
“We inherited an economy in deep crisis,” he stated, highlighting key issues such as rising inflation, high debt levels, and a struggling currency.
He further detailed the country’s fiscal difficulties, citing large arrears accumulated by Ministries, Departments, and Agencies (MDAs), financial sector liabilities, and energy sector debts.
“Mr. Speaker, our economy has been severely impacted by debt and other fiscal challenges, including reckless public spending,” Dr. Forson noted, expressing concerns over the nation’s financial stability.
Despite these challenges, he assured Ghanaians that the government is committed to addressing the crisis and setting the economy on a path to recovery.
“We will fix the problem and put the economy on a sound path,” the Finance Minister pledged.
