Finance Minister Dr. Cassiel Ato Forson said that Ghana’s economic recovery must produce decent jobs, higher incomes, and a stronger productive economy. He made the remarks during a discussion with faculty and students at the University of Ghana.
“Stabilization was never the destination. It was the price of entry,” Dr. Forson said. He acknowledged progress in restoring economic confidence but stressed that recovery alone could not meet Ghana’s ambitions.
“Ghana has fought hard to restore stability. Inflation has come down. Confidence is returning. Debt pressures are being managed. The economy is recovering,” he said.
Dr. Forson outlined a vision for what he called the “New Economy.” This vision focuses on turning the sacrifices made during the stabilization process into tangible benefits for Ghanaians. That means expanding production, attracting investment, and creating opportunities that improve people’s livelihoods.
“Stability must now become production, exports, investment, decent jobs, and higher incomes. That is the central purpose of the New Economy,” he said.
He described this New Economy as one where Ghana produces more of what it consumes and adds value to its agricultural and mineral resources. The goal is to create decent jobs on a large scale.
Public investment, according to Dr. Forson, will support private enterprise by opening opportunities for businesses to invest, expand, and employ more Ghanaians.
The Finance Minister emphasized that the purpose of this economic transition is to ensure that the benefits of recovery reach the people whose sacrifices made it possible.
“The New Economy,” he said, “is about building a Ghana that turns the sacrifices of stabilization into real benefits for the Ghanaian people.”
His remarks come amid ongoing efforts by the government to reduce inflation and manage debt pressures after a challenging period for the country’s economy. The government’s reforms have aimed to restore stability, but Dr. Forson indicated that the focus now shifts to growth and job creation.
The emphasis on production and adding value to resources suggests a push beyond traditional export models, targeting broader economic participation.
Dr. Forson’s comments underline a shift in the government’s economic messaging, focusing on outcomes that directly affect livelihoods rather than stabilization metrics alone.
According to 3News.
