Accra: Dr Cassiel Ato Forson, the finance minister-designate, has announced that the Government will work collaboratively with the Bank of Ghana (BoG) to stabilize the country's foreign exchange regime. During his vetting by the Appointments Committee of Parliament, Dr Forson emphasized the Government's commitment to generating revenue through fiscal discipline and compliance rather than imposing additional taxes on citizens.
According to Ghana News Agency, Dr Forson reiterated the National Democratic Congress (NDC) government's intention to abolish the Electronic Transfer Levy (E-levy) and betting taxes in its initial budget. As the Majority Leader and Member of Parliament for Ajumako/Enyan/Essiam in the Central Region, he highlighted the Mahama Administration's plans to invest significantly in modernizing agriculture to ensure stable and affordable food prices nationwide.
The Government aims to allocate resources to priority policies to create jobs and reduce the current inflation rate of 23.8 percent. Dr Forson also mentioned the intention to cut wasteful expenditures, including the National Cathedral Project, to minimize costs. The proposed NDC-led Government plans to establish an independent debt management office to transparently report on the country's debt issues and increase the tax-revenue-GDP ratio to 16 percent from the current 13.8 percent.
Dr Forson assured that the Government would implement a comprehensive agenda that protects the vulnerable population. However, when questioned about the specific price for purchasing a 64kg cocoa bag, he did not provide an exact figure but committed to advocating for fair cocoa prices for farmers, acknowledging that current prices fall short of farmers' expectations.
He pledged to champion fair pricing for cocoa farmers, citing his advocacy for their cause. It is reported that during the 2024 election campaign, the NDC promised to increase the price of a 64kg cocoa bag from GHS3,000 to GHS6,100 if elected.
On January 9, 2025, President John Dramani Mahama submitted his first batch of ministerial nominations to the Speaker of Parliament in compliance with Article 78 of the 1992 Constitution. The nominees include Dr Cassiel Ato Baah Forson for Finance, Mr John Abdulai Jinapor for Energy, and Dr Dominic Akuritinga Ayine for Attorney-General and Minister of Justice.
