Finance Minister Imposes Austerity Measures to Rein in Public Spending
Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has announced a series of stringent cost-cutting measures aimed at curbing government expenditure and reinforcing fiscal discipline, as the country continues to navigate its IMF-supported economic programme.
Speaking during a meeting with World Bank Division Director Robert Taliercio O’Brien and his team, Dr. Forson acknowledged the fiscal headwinds Ghana has faced over the past year, including difficulties in achieving a primary surplus of just 0.5%.
Despite these challenges, he reiterated the government’s commitment to restoring economic stability.
“As a government, we are taking decisive action to curb unnecessary expenditures across all sectors,” he said. “The era of free, non-essential conference travel is over. Delegation sizes will be significantly reduced, with three officials now expected to accomplish the work of ten, ensuring efficiency without compromising productivity.”
Among the measures introduced, Dr. Forson has enforced substantial budget cuts, including reductions within the Office of the President.
These moves, he stressed, are intended to prioritise spending on projects that stimulate economic growth and enhance public welfare.
The Finance Minister also welcomed the World Bank’s continued backing of Ghana’s education reforms, particularly additional resources allocated to the sector.
However, he maintained that the government’s overarching priority is to uphold financial discipline, assuring both investors and development partners of Ghana’s commitment to sustainable fiscal management.
