Finance Minister Dr Cassiel Ato Forson told students and faculty at the University of Ghana that restoring macroeconomic stability is only the first step in the government’s agenda. He warned that inflation has fallen, investor confidence is returning and debt pressures are being managed, but that these gains will mean little if they do not improve everyday life for Ghanaians.
“Ghana has fought hard to restore stability. Inflation has come down. Confidence is returning. Debt pressures are being managed. The economy is recovering. But recovery is not enough,” he said.
Forson outlined the next phase of reforms, which he calls the “New Economy”, as a shift from stabilisation to a focus on production, exports, investment and decent jobs. He said the priority is to expand production, attract investment, grow exports and create jobs that lift household incomes.
He described a vision of an economy that produces more of what it consumes and adds value to its agricultural and mineral resources, with public investment supporting private‑sector growth. The minister said the success of the New Economy will depend on whether improved macro conditions translate into stronger business activity, higher productivity and sustainable job creation.
“Stability must now become production, exports, investment, decent jobs and higher incomes. That is the central purpose of the New Economy,” Forson added. He concluded that the ultimate goal is to ensure that the benefits of the recovery reach the people whose sacrifices helped restore economic stability.
