Finance Minister Cassiel Ato Forson has pledged that the ruling National Democratic Congress (NDC) government will fix the “economic crisis” inherited from the Akufo-Addo administration.

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Presenting the much-anticipated 2025 Budget Statement to Parliament on Tuesday, Dr. Forson revealed that the Mahama administration has already initiated bold measures to restore Ghana’s economy.

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He emphasized that the government will tackle the crisis with a commitment to sacrifice, discipline, and transparency, ensuring a responsible approach to economic recovery.

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Dr. Forson assured that the revitalization efforts will begin within the government, with all stakeholders playing a role in rebuilding the nation’s financial stability.

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“RT Honorable Speaker it is what it is, the state of our economy is troubling but we will fix it.We will fix it but Mr Speaker it will require some sacrifices, truthfulness, transparency and discipline. We will take strong measures to confront the situation head on. The sacrifice must come from all stakeholders beginning with the government.

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According to him, the economy is in a dire state due to excessive debt, financial sector obligations, and unchecked expenditures by the opposition New Patriotic Party (NPP).

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"Mr Speaker hands on heart we inherited an economy in deep crisis, Mr Speaker, an economy had hit with debt,.. and financial sector payments. Re-commitment control and reckless spending have reversed the progress made in physical consolidation even under the IMF programme that commenced in the year 2023.

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Despite the measures introduced under the IMF-supported programme, the Finance Minister noted that economic distress persists.He attributed this to the heavy sacrifices made by domestic bondholders, external creditors, and taxpayers, emphasizing that the nation is still grappling with the consequences of past mismanagement.

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"Mr Speaker notwithstanding the gains made under the IMF supported programme that was to achieve through the painful sacrifice of Domestic Bondholders external creditors and taxpayers the economy remains in distress,” he added.

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