The Finance Minister, Dr Cassiel Ato Forson, has painted a grim picture of the nation’s economy, describing it as being in “deep crisis.”
Delivering the much-anticipated 2025 budget statement in Parliament on Tuesday, March 11, Dr Forson acknowledged the challenging economic situation inherited from the previous administration.
“We inherited an economy in deep crisis,” Dr Forson remarked, outlining the key challenges that the new government is grappling with, including rising inflation, debt levels, and a struggling currency.
“Mr Speaker, an economy hard hit by debts and other fiscal challenges such as the large accumulation of MDAs arrears, energy sector, and financial sector payments,” he said while reading the budget.
He also attributed the crisis to “reckless public spending” and expressed concern over the state of the country’s finances, stating that the government faces significant hurdles in stabilising the economy.
Nonetheless, he stated that the government will fix the problem and put the economy on a sound path.
