Dr Ato Forson outlines legislative measures to protect economic recovery

Finance Minister Dr Cassiel Ato Forson says the government has introduced about 22 laws over the past 18 months to institutionalise its economic reforms, sustain recent gains and protect the country from a return to the economic difficulties experienced between 2022 and 2024.

He said the move was intended to ensure that the progress achieved through the government's economic recovery efforts would be sustained beyond its tenure and not easily reversed by future administrations.

According to him, the government is deliberately translating key policy decisions into legislation to provide a stronger legal foundation for economic management and prevent a recurrence of the challenges that previously affected the country.

Dr Forson made the remarks during a New Economy engagement at the University of Ghana, where he outlined efforts to institutionalise the government's reforms and ensure their long-term sustainability.

He was responding to Prof Fred Dzanku, Head of the Economics Division at the university's Institute of Statistical, Social and Economic Research (ISSER), who questioned how some of the government's policies and initiatives could be institutionalised to ensure they outlast the current administration.

Responding, Dr Forson said the government had adopted a legislative approach to securing the reforms, with about 22 laws introduced within the past 18 months.

“I try to introduce a lot of laws. In the last 18 months, we have introduced about 22 laws,” he said.

The Finance Minister explained that the process involved introducing new legislation, repealing existing laws and amending others to provide the necessary legal backing for the reforms.

“We are trying to put these reforms into law,” he said.

He noted that relying solely on government policies and administrative decisions could leave important economic interventions vulnerable to changes in political leadership.

To address this, the government is seeking to establish legal provisions that would make it more difficult for future administrations to reverse some of the measures introduced.

Dr Forson disclosed that some of the proposed amendments would require a two-thirds majority in Parliament before particular laws could be changed, thereby providing an additional layer of protection for the reforms.

“So we are locking in the progress,” he added.

He said his experience in Parliament and policymaking had given him a better understanding of the importance of creating institutional arrangements that could sustain economic reforms beyond the tenure of a particular government.

“I am in a unique position to understand how the issue of sustainability can be tackled because of my parliamentary experience and policy experience,” he said.

The Minister observed that policies not supported by legislation could easily be changed or abandoned by subsequent governments, potentially undermining the progress made under previous administrations.

He therefore stressed the need to move beyond policy declarations and establish legal frameworks that would make key economic management measures more sustainable.

Dr Forson cited ongoing amendments to the Public Financial Management (PFM) Act as one of the key measures being pursued to strengthen the institutional framework for managing the country's finances.

“So the PFM Act is being amended. Some of the things we are doing are being institutionalised and we are putting it into law to lock in the sustainability,” he said.

The proposed changes, he explained, form part of the broader effort to ensure that the principles underpinning the government's economic reforms are embedded in the country's legal and institutional structures.