Dr. Cassiel Ato Forson, Ghana’s Minister of Finance Designate, has unveiled a bold and decisive plan to tackle the country’s deepening economic challenges. Central to this plan is the abolition of the controversial E-Levy within 120 days of assuming office.
In its place, road tolls will be reintroduced as part of a broader strategy to enhance revenue collection and reduce the financial burden on citizens.
Speaking during his vetting before the Appointments Committee of Parliament, Dr. Forson stressed the urgency of efficient revenue mobilization, emphasizing fairness and economic stability. He warned that Ghana’s economic struggles demand bold solutions and structural reforms to achieve sustainable progress.
“If you want to fix the Cedi and fail to address the structural challenges we face as a country, you will fight,” Dr. Forson explained, emphasizing that stabilizing the currency requires tackling the root causes of Ghana’s financial issues.
Dr. Forson revealed that his government’s approach would include reintroducing road tolls as part of a more robust and effective revenue collection system. He underscored the need for improving revenue generation without overburdening the public, stating, “We must collect revenue effectively while ensuring fairness and efficiency.”
In addition, Dr. Forson outlined plans to revitalize Ghana’s upstream oil sector, which he described as a critical driver of economic recovery. He highlighted the sector’s untapped potential, calling its revitalization urgent and necessary.
“Revitalizing this sector is not optional, it is crucial,” he stated, emphasizing the need for immediate action to maximize its contribution to the economy.
Dr. Forson also made a passionate appeal for public support in cutting government expenditure, which he described as essential for restoring confidence and building a more resilient economy. “Support me to cut expenditure. It is the only way to rebuild confidence,” he urged, stressing the importance of shared sacrifices for the nation’s economic recovery.
Addressing Ghana’s debt and inflation challenges, Dr. Forson emphasized the need to improve the country’s credit rating and stabilize inflation. These efforts, he explained, are critical steps toward regaining access to the domestic bond market and attracting much-needed investments to finance growth.
Job creation, he stressed, is a non-negotiable priority, insisting that economic policies must deliver real and tangible benefits to citizens. “The people of Ghana deserve an economy that works for them, not against them,” Dr. Forson declared.
