National Economic Dialogue: An opportunity for Ghana to reflect on economic reality, address pressing challenges - Ato Forson

Dr. Cassiel Ato Forson, Minister for Finance, has said the National Economic Dialogue is opportunity for the country to reflect on its economic reality, address pressing challenges, and chart a path toward recovery.

The dialogue, the first in over a decade, is under the theme; “Resetting Ghana: Building the Economy We Want Together.”

It brings together policymakers, business leaders, and other stakeholders to develop solutions for Ghana’s struggling economy.

Speaking at the opening of the dialogue at the Accra International Conference Centre, Dr. Forson emphasized the severity of the economic crisis and the need for collective sacrifice to restore stability.

“The economic crisis is not over. From severe currency depreciation to hyperinflation, from haircuts to steep tax increases, from rising fuel and electricity prices to soaring interest rates,” he stated.

Dr. Forson stressed that with the development of the country’s medium-term economic plans, he hoped that “the insights, expertise and experiences that will be garnered from the deliberations will prove to be invaluable assets that will shape our collective path forward.”

In response to the crisis, he outlined government-led cost-cutting measures, including reducing the number of ministers from 88 to 60 under President John Dramani Mahama’s administration, budget cuts at the Office of the President, and a ban on first-class travel for government officials.

“These actions represent the initial steps in our ongoing journey towards fiscal discipline and good governance,” he noted.

Dr. Forson also commended Organised Labour and the Ghana Employers Association for their cooperation in reaching agreements on the minimum wage and base pay.

He reaffirmed the government’s commitment to transparency, accountability, and good governance as it works to rebuild the economy.

The dialogue features panel discussions, workshops, and breakout sessions aimed at producing actionable policy recommendations.