The National Economic Dialogue has been praised for its purpose-driven approach, as technocrats leading the discussions focus on the economic gaps and major challenges outlined in the State of the Economic Address presented by the President to Parliament.
The dialogue is centered on key thematic areas concerning threats to the economy, and working groups are set to address critical issues affecting the financial well-being of Ghanaians. These groups will delve into the economic realities impacting various sectors and everyday lives.
Dr. John Gatsi, Dean of the University of Cape Coast Business School, discussed the dialogue’s importance on Adekyee Mu Nsem, a morning show on Ahotor 92.3 FM, hosted by Citizen Kofi Owusu in Accra. He commended the dialogue’s focus on tackling financial challenges and addressing the key performance indicators that reflect the state of the economy.
Dr. Gatsi noted that the country’s state-owned institutions, such as the Volta River Authority, Electricity Company of Ghana (ECG), and GRIDCo, are facing significant financial challenges. He emphasized the need for substantial input from the dialogue to address these challenges, especially in reducing costs and eliminating waste in development projects.
Finance Minister Warns Economic Crisis is Far from Over
In a related development, Ghana’s economic crisis is far from over, warned Finance Minister Dr. Cassiel Ato Forson. During his address at the National Economic Dialogue in Accra, Dr. Forson painted a grim picture of the country’s financial state, urging urgent action to restore stability.
Speaking to government officials, business leaders, and civil society representatives, Dr. Forson highlighted the severe economic difficulties faced by Ghanaians. These include rapid currency depreciation, weakening consumer purchasing power, hyperinflation, and steep tax increases—all of which are driving up the cost of goods and services. He also pointed to rising fuel and electricity prices, which are worsening the cost-of-living crisis, and soaring interest rates, making borrowing more expensive for both businesses and households.
“The full impact of our recent crisis is still unfolding,” Dr. Forson warned. “We must take bold steps now to prevent further economic decline.”
Despite the challenges, Dr. Forson expressed hope that the dialogue would lead to viable solutions to reset the economy. He emphasized the government’s commitment to fiscal discipline, cost-cutting measures, and ensuring transparency and accountability as crucial steps toward recovery.
Dr. Forson called on all stakeholders to actively participate in the discussions, underscoring the importance of national unity and shared sacrifice in overcoming the crisis.
The National Economic Dialogue continues with in-depth policy discussions aimed at finding long-term solutions to Ghana’s economic challenges.
Story by: Alexander Kukah
