Ghana must move beyond stability to lasting growth – Ato Forson

Finance Minister Dr Cassiel Ato Forson said Ghana must tackle the economic weaknesses that continue to drive it into difficulty, cautioning that stabilisation alone cannot secure lasting prosperity.

Speaking to faculty and students at the University of Ghana during his New Economy engagement, he called for a shift towards producing more locally, processing the country’s resources and creating decent jobs.

“We have stabilised the present. Now we must secure the future,” he said.

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Dr Forson stated Ghana had reached a point where public policy must address the causes of its economic problems instead of repeatedly responding to their effects.

“There are moments when a nation must make a clear break with old patterns. There are moments when public policy must stop managing symptoms and start changing structures. This is such a moment for Ghana,” he stated.

He said the next phase of the country’s economic agenda must build on stability to expand opportunities for businesses, raise incomes and improve prospects for future generations.

That would require Ghana to add more value to what it grows and mines, strengthening domestic production as a basis for sustained growth.

His remarks place local industries and job creation at the centre of the New Economy agenda, linking the country’s economic recovery to its ability to produce more goods at home.

According to him, the challenge was to change the conditions that allow economic pressures to return, while building an economy capable of delivering lasting benefits.

The Finance Minister also stressed the need for firm decisions to move the country forward.

“History does not wait for countries that are afraid to decide,” he said.

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He urged a forward-looking approach to policymaking, with decisions focused on securing opportunities for both present and future generations.

DR

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