Finance Minister Dr. Ato Forson has assured Parliament of the government’s commitment to maintaining economic stability amid ongoing concerns over currency depreciation and inflation.
Speaking on the floor of Parliament, Dr. Forson highlighted key financial measures being implemented to address the nation’s economic challenges.
He said ” Cedi has depreciated by 5.3% to the dollar as at March 14 this year compared to 5.7% same period last year”
According to the minister, the government is actively monitoring the performance of the Ghanaian cedi and remains dedicated to stabilizing the currency against the dollar.
He acknowledged that fluctuations in the exchange rate have impacted various sectors, leading to concerns over the cost of goods and services.
Dr. Forson also emphasized the importance of fiscal discipline, stating that efforts are underway to curb excessive spending while ensuring essential services remain funded.
He noted that recent financial strategies have contributed to improving investor confidence and strengthening Ghana’s economic outlook.
The minister further addressed concerns about the military’s financial allocations, stating that resources have been made available to support security operations and other national priorities.
He further reassured Parliament that the government is committed to protecting the purchasing power of citizens and preventing further erosion of the cedi’s value.
On the issue of inflation, Dr. Forson acknowledged the challenges but expressed optimism that economic policies would gradually yield positive results.
He urged Ghanaians to remain confident in the government’s efforts to restore stability and promote sustainable growth.
Parliamentarians raised various questions regarding the effectiveness of government policies, particularly in addressing the depreciation of the cedi and the rising cost of living.
Dr. Forson, however, maintained that strategic interventions were in place to mitigate economic shocks and ensure long-term financial stability.
The Finance Minister’s address comes amid heightened concerns from businesses and households over the country’s economic trajectory.
As discussions continue, stakeholders are keenly watching for further policy actions to alleviate financial pressures on the economy.
Source : www.kumasimail.com
