Ato Forson vows to cut inflation to 8%, stabilize cedi through fiscal discipline

Dr. Cassiel Ato Forson, the Finance Minister-designate, has outlined bold plans to reduce inflation to 8% plus or minus 2 as part of a short-term strategy to stabilize Ghana’s economy.

Speaking during his vetting before Parliament’s Appointments Committee, Dr. Forson emphasized the need for coordinated fiscal and monetary measures to anchor the Ghanaian cedi.

“BoG alone cannot anchor the Ghana cedi. The Ministry of Finance will have to play a critical role in anchoring the cedi,” he stated, stressing the urgency of his proposed interventions.

“It is our responsibility to make sure we reduce inflation to 8% plus or minus 2 in a short possible time.”

He highlighted a strategy centered on “a careful but strong front-loaded fiscal consolidation expenditure base” as the foundation for reducing inflation and creating space for monetary authorities to conserve reserves.

“Doing this will help the monitory authorities to be able to save reserves and protect the cedi,” he explained.