Finance Minister: Ghana’s Economy Inherited in “Deep Crisis”
Ghana's Economy in "Deep Crisis," Says Finance Minister
- Dr. Cassiel Ato Forson declared that the current government inherited an economy in "deep crisis."
- Dr. Forson detailed the severe economic challenges facing Ghana
- Dr. Forson assured the nation that the government is committed to rectifying the economic situation
Finance Minister Dr. Cassiel Ato Forson, in presenting the 2025 budget, declared that the current government inherited an economy in “deep crisis.”
Addressing Parliament on Tuesday, March 11, Dr. Forson detailed the severe economic challenges facing Ghana, including escalating inflation, high national debt, and a struggling currency.
“We inherited an economy in deep crisis,” he stated, attributing the situation to “reckless public spending” and highlighting significant financial burdens such as accumulated arrears from government agencies, financial sector liabilities, and energy sector debts.
Despite this stark assessment, Dr. Forson assured the nation that the government is committed to rectifying the economic situation and steering the country towards recovery. “We will fix the problem and put the economy on a sound path,” he pledged.
