Finance Minister Cassiel Ato Forson has reiterated that the John Dramani Mahama-led government inherited an economy in deep crisis, weighed down by debt and severe financial challenges.
According to him, the current state of the country’s economy is a direct result of reckless spending by the previous administration, which has worsened the financial burden on the nation.
Presenting the 2025 Budget before Parliament on Tuesday, March 11, Ato Forson painted a grim picture of Ghana’s economic state, emphasizing the severe fiscal difficulties his government has had to deal with.
“Mr. Speaker, hands on heart, we inherited an economy in deep crisis. Mr. Speaker, an economy hard hit with debt and beset by other fiscal challenges, such as the large accumulation of MDA arrears, energy sector shortfalls, and financial sector payments.
“Mr. Speaker, recommitment control and reckless public spending have reversed the progress made in fiscal consolidation, even under the IMF programme that commenced in the year 2023,” he stated.