Dr. Cassiel Ato Forson, the Minister-Designate for Finance, has pledged to reduce Ghana’s inflation to a single-digit figure of 8% under President John Dramani Mahama’s administration.
During his vetting on Monday, January 13, 2025, Dr. Forson outlined several measures he believes will help achieve this goal, emphasizing the importance of controlling expenditure.
He stated that by introducing these measures, Ghana can bring inflation down to 8% plus or minus two, which would enable the country to reopen the domestic bond market.
This move would help reduce the over-reliance on the treasury bill market.
Dr. Ato Forson also stressed the importance of cutting expenditure, saying that the country needs to be realistic about its financial situation and make adjustments accordingly.
“I believe if we are to introduce strong measures, particularly from the expenditure side, we will be able to bring inflation down to 8% plus or minus two. In doing so, we will be able to reopen the domestic bond market so that we can move away from the over-reliance on the treasury bill market,” Ato Forson said.
“If you are confronted with a situation where you do not have financing, then there is a need for you to look within. Let’s deal with expenditure, let’s cut expenditure, let us not pretend that there is money there for us. Just like it has been done somewhere, we can also do it here.”
