Ghana’s Finance Minister, Cassiel Ato Forson, says the government has implemented tough but essential reforms to restore economic stability under the current administration.
Speaking during an engagement with international investors, Dr Forson outlined key measures including reducing the size of government, enforcing stricter public financial controls, and amending the Public Financial Management framework with new fiscal rules. He also highlighted plans to establish a Fiscal Council and an Office of Value for Money to improve oversight and curb waste.
Additional reforms include uncapping statutory funds to better align spending with national priorities, restructuring petroleum revenue and mining royalties to support infrastructure, and implementing changes across tax administration, VAT, customs, payroll, energy, and the cocoa sector.
According to the Minister, these reforms are already yielding results, with stronger-than-expected economic growth, declining inflation, a more stable currency, improved external reserves, and renewed investor confidence. He emphasised that the progress reflects deliberate and disciplined policy actions, not short-term measures.
Dr Forson reaffirmed the government’s commitment to sustaining the reforms and building a resilient, inclusive, and growth-driven economy.