Dr Cassiel Ato Forson, the Finance Minister, has boldly declared that Ghana is back and open for business.
According to Ato Forson, the turnaround within 10 months of the Mahama administration is due to the resilience Ghanaian people and the government’s leadership.
The Finance Minister boldly told international partners and investors that Ghana has regained its economic stability.
Presenting the 2026 Budget Statement and Economic Policy to Parliament on Thursday, November 13, Dr Ato Forson stated, “To our international partners and investors, Ghana is back, strong, credible, and open for business. The story of Ghana is no longer one of crisis but of recovery and renewal”.
“The reforms we have undertaken are not quick fixes; they are the foundations of a resilient, competitive, and inclusive economy.”
He further recounted that the Mahama administration inherited a deeply distressed economy, “Ghana was indeed at the bottom of the abyss, a nation in distress with its economy bleeding and its people weary, yet yearning for leadership with the courage and vision to rebuild,”.
“Barely a year ago, our economy was uncertain. Today, the cedi in your pocket is stronger, prices are stabilising, and new opportunities are emerging across agriculture, industry, and technology,” he said.
Ato Forson added, “This progress is the fruit of sacrifice and discipline. Ghanaians tightened their belts, businesses adapted, and government stayed the course”.
Furthermore, Ato Forson has announced that the government will commence the construction of a 1,200-megawatt (MW) state-owned thermal power plant in 2026.
He revealed the move is part of the government plan to ensure a reliable and affordable electricity supply for the country.
The finance minister added that Ghana’s OCTP and Jubilee partners will produce 150 million standard cubic feet of gas, which will be sufficient to generate up to 1,200 megawatts of power.
Dr Forson said, “The 1,200-megawatt state-owned thermal power plant will support the provision of reliable and affordable power while ensuring long-term energy security for the country”.
In related news, Dr Cassiel Ato Forson, the Finance Minister, has stated that Ghana’s problem has always been borrowing.
According to Ato Forson, the country sometimes borrows just for consumption.
Ato Forson revealed he has no intention to rush back to the international capital market for loans.
He emphasised that Ghana must break the cycle of reckless borrowing, adding that borrowing must be deliberate and growth-focused.
Speaking on Joy News’ PM Express after presenting the 2026 Budget, Dr Ato Forson stated, “It has been Ghana’s problem, borrowing, borrowing, sometimes borrowing for consumption”.
He stressed. “I’m not one of those people. I’m not in a hurry to go to the capital market to borrow, no way. If I’m to take money, obviously there’s a budget, there’s a deficit to a stent, and you have to finance the deficit. I will take it domestically,” he said.
“We should be able to borrow and set up a domestic infrastructure board in cedi, so that you, if you have money and you want to support infrastructure, you should be able to support the government,” he said.
He added, “The appetite is not going into the capital market just to borrow. Like in the past, we saw it 3 billion every year.”
“You want to borrow smart, what does that mean? Borrow for things that you think the multiplier is better,” he said. “Let me put it simpler, not to borrow for shopping, okay, borrow for growth.”