The Finance Minister, Dr Cassiel Ato Forson, has highlighted the measures that the Mahama administration has undertaken to stabilise the economy. He described the measures as difficult but necessary decisions taken by the government.
“Reducing the size of government, enforcing mandatory commitment controls, amending the PFM Act with new fiscal rules, and establishing the Fiscal Council and the Office of Value for Money to strengthen oversight and eliminate waste.
“We have also uncapped statutory funds to better align spending with national priorities, reformed petroleum revenue and mining royalties to support infrastructure, and advanced reforms in tax administration, VAT, customs, payroll, energy, and the cocoa sector,” he said during an engagement with international investors on Ghana’s economic outlook and reform programme on Thursday, April 16.
Dr Forson further emphasised that the gains are not cosmetic; they are the result of deliberate, well-sequenced reforms engraved in law, underpinned by strong policy discipline.
These efforts, he said, are yielding results.
“Growth has exceeded expectations, inflation is declining, the cedi has stabilised, our external position has strengthened, and reserve accumulation is ahead of programme targets. Yields have declined, and investor confidence is returning.”
He also observed that, one after the other, investors expressed strong admiration for the reset agenda and the progress made in restoring stability and credibility.
“We remain focused on consolidating these gains, deepening reforms, and building a more resilient, inclusive, and growth-oriented economy,” he assured.
