By: Sarah Baafi
In a recent online discussion hosted on X space by a popular social media influencer KalyJay, Finance Minister, Dr Cassiel Ato Forson interacted with netizens to address their expectations for the upcoming 2025 budget.
The discussion centered on “Budget 2025: What Do Young People Expect?” where participants posed questions about the budget, which will be presented to Parliament tomorrow, March 11, 2025.
This interactive session provided an opportunity for young people to voice their concerns and hear directly from the minister.
Dr Ato Forson acknowledged the economic challenges facing Ghana, emphasizing the need to stabilize the economy, reduce inflation, and lower the cost of living. He noted, “Let us not deceive ourselves that the country is out of our hands yet. The economy is still in distress, we need to take measures to bring us back to the stability we deserve.”
Ato Forson’s focus is on implementing measures that will help achieve these goals, ensuring a more stable economic environment for all citizens. He emphasized that “a rising tide” of economic stability is crucial for the country’s recovery.
During the discussion, a participant asked about the possibility of controlling prices at the market. Dr Ato Forson explained that in an open economy, controlling prices directly is challenging.
He stated, “I’m afraid to say that in an open economy it is difficult to control prices.” However, he emphasized that creating a stable exchange rate, reducing inflation, and stabilizing the economy can indirectly influence market prices.
This approach aims to ensure that prices remain stable across different regions and over time.
He also addressed the implementation of manifesto policies, explaining that not all commitments can be fulfilled within a single budget year. He highlighted that some policies are time-bound, with specific deadlines such as 120 days or one year, while others are medium-term goals.
The minister noted, “We will take steps to ensure that those policies as enshrined in our manifesto, we commit to implement it in 120 days in the first year.” This strategic approach will help manage expectations and ensure that key commitments are met over time.
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