Finance Minister Dr. Cassiel Ato Forson has outlined a series of structural reforms aimed at revitalizing Ghana’s struggling economy. The plan focuses on fiscal discipline, state-owned enterprise (SOE) reform, subsidy restructuring, and improved financial transparency.
A key aspect of the reforms is strengthening domestic revenue collection to reduce reliance on external borrowing. The government aims to broaden the tax base and enhance efficiency in revenue mobilization while cutting wasteful spending.
State-owned enterprises, including COCOBOD and ECG, will undergo major restructuring to reduce financial burdens on the state. The reforms also include a gradual phase-out of broad subsidies, replacing them with targeted social support for the most vulnerable.
Transparency and accountability are central to the strategy, with strict enforcement of procurement laws and financial regulations to curb corruption and ensure efficient use of public funds.
While these measures offer hope for economic stability, their success will depend on strong implementation and political commitment. Ghanaians await the impact of these bold reforms, hoping for relief in prices, job opportunities, and a stronger currency.
