Finance Minister Dr Cassiel Ato Forson has declared that macroeconomic gains alone are insufficient unless they directly lead to decent employment opportunities, increased household earnings, and expanded local production.
Addressing students and faculty members at the University of Ghana, the Minister emphasized that restoring fiscal stability represents only the foundational phase of the government’s wider economic trajectory.
According to him, the state must now transition into a new developmental phase tagged the “New Economy,” designed to convert national sacrifices into concrete benefits for citizens.
While pointing to visible signs of recovery—such as dropping inflation rates, growing investor confidence, and improved debt management—Dr Forson maintained that these metrics hold little value if average households feel no financial relief.
“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 noted.
Dr Forson reiterated that government strategy is pivoting toward scaling up domestic capacity, driving value addition across key natural resources, boosting exports, and mobilizing private capital to generate employment.
“Stability must now become production, exports, investment, decent jobs and higher incomes. That is the central purpose of the New Economy,” he explained.
Under the framework, public sector investments will be structured to catalyst private enterprise expansion, encouraging businesses to scale up operations and hire more workers.
The Finance Minister concluded that the ultimate benchmark for the policy shift will be its ability to build a nation that “turns the sacrifices of stabilisation into real benefits for the Ghanaian people”.
By: Rainbowradioonline.com/Ghana