President Mahama’s nominee for Finance Minister, Dr. Cassiel Ato Forson, has pledged to reduce Ghana’s inflation to single digits through robust fiscal measures, particularly by controlling government expenditure.
Speaking during his vetting on January 13, Dr. Forson outlined a series of proposals aimed at stabilizing the economy, including cutting unnecessary spending and reducing the country’s reliance on borrowing.
One of his key priorities, he stated, is to bring inflation down to a target range of 8%.
“I believe if we are to introduce strong measures, particularly from the expenditure side, we will be able to bring inflation down to 8% plus or minus two. In doing so, we will be able to reopen the domestic bond market so that we can move away from the over-reliance on the treasury bill market,” Ato Forson said.
The Finance Minister-designate also promised to restore confidence in the economy amidst fiscal discipline.
“If you are confronted with a situation where you do not have financing, then there is a need for you to look within. Let’s deal with expenditure, let’s cut expenditure, let us not pretend that there is money there for us. Just like it has been done somewhere, we can also do it here,” he continued.