Ato Forson reaffirms commitment to fiscal discipline
The Minister for Finance, Dr. Cassiel Ato Forson, has reaffirmed the government’s commitment to prudent financial management, insisting that Ghana’s economy is making measurable progress under the current administration.
Contributing to the debate on the Appropriation Bill No. 2, 2025, in Parliament on Thursday, December 18, Dr. Forson said the gains recorded in the economy were evident and acknowledged across the political divide.
“Everyone in this chamber believes that President Mahama has made significant progress in this economy. Even our colleagues opposite know that Ghana is making progress,” he stated.
Dr. Forson stressed that fiscal discipline remains a central pillar of government policy, dismissing claims that the administration was being wasteful.
He defended discussions around the possible acquisition of a presidential jet, arguing that purchasing an aircraft could be more cost-effective than continuous leasing.
“We have been prudent, and we will continue to be prudent. I heard my colleague say that a government which is prudent is planning to buy a presidential jet. But the fact remains that it is better to buy than to rent, and the cost of buying is equivalent to what was spent on renting aircraft under the previous administration. That fact is there for all to see,” he said.
The Finance Minister also assured Parliament that the government would honour Ghana’s debt obligations, including a major Eurobond payment inherited from the previous administration.
According to him, the government is set to service a US$710 million Eurobond on January 3, 2026, despite the challenging fiscal situation it assumed upon taking office.
“When our colleagues were leaving the office, they left us with a big debt. A debt that has been restructured to the extent that on January 3, 2026, the government will have to service the Eurobond it borrowed to the tune of US$710 million. That debt is due for us to service, and this budget is going to pay that,” Dr. Forson told the House.
He concluded by reiterating the government’s resolve to meet its financial obligations while maintaining discipline in public spending, saying, “We are going to pay the debt you left behind.”
