2025 Budget: ‘We inherited a broken economy’ – Ato Forson

The Finance Minister, Dr. Cassiel Ato Forson, has delivered a sobering assessment of Ghana’s economic situation, describing it as being in a state of “deep crisis.”

Presenting the highly anticipated 2025 Budget Statement to Parliament on Tuesday, March 11, Dr. Forson highlighted the severe economic challenges inherited from the previous administration.

“We inherited an economy in deep crisis,” he declared, pointing to surging inflation, unsustainable debt levels, a weakening currency, and mounting arrears across key sectors.

“Mr. Speaker, we are grappling with an economy burdened by massive debts and fiscal challenges, including a large backlog of unpaid arrears by Ministries, Departments, and Agencies (MDAs), as well as unresolved payments in the energy and financial sectors,” he noted during his address.

Dr. Forson attributed the current economic distress to years of reckless public spending and poor fiscal discipline, warning that the country’s financial health is in a fragile state.

Despite the daunting circumstances, he assured Ghanaians that the new government is committed to restoring economic stability and steering the nation back to a path of sustainable growth.

“We will fix this economy,” he affirmed, promising a comprehensive strategy to rebuild confidence and reposition Ghana’s economy for long-term prosperity.