Finance Minister Dr Cassiel Ato Forson says the government is entering a new phase of its economic programme, with greater emphasis now being placed on job creation, business expansion and improving household incomes.
According to the minister, the government’s initial priority was to stabilise the economy, but it now intends to focus more directly on the economic conditions experienced by workers, businesses and households.
Dr Forson made the remarks during an engagement with the leadership and members of the Trades Union Congress (TUC), where he outlined what he described as the next stage of the government’s economic agenda.
He explained that the NDC’s manifesto had set out a plan to devote the first part of its tenure to restoring stability to the economy before shifting attention to measures that would have a more direct impact on individuals and businesses.
“If you look at the NDC manifesto, you notice that we said we will spend half our time to stabilise the economy, and then after we lock in the economy and we stabilise it, we move towards the micro,” he said.
Dr Forson said the government now believes the time has come to place greater emphasis on the microeconomy, particularly the creation of decent employment opportunities.
“That is where we are going now. And so you’ll see us moving towards the micro economy where jobs, decent jobs, are created. So that is going to be our focus,” he stated.
The Finance Minister linked the government’s economic ambitions to improvements in the everyday lives of Ghanaians, arguing that stronger businesses and better wages would give households greater capacity to meet their needs.
He cited decent housing as one example of how rising incomes can translate into improved living conditions.
“When businesses do well, and people get decent salaries or wages, they build houses that are decent,” he said.
For Dr Forson, improving living standards therefore requires more than simply addressing individual challenges. He said the broader economy must be capable of supporting businesses, generating employment and providing workers with incomes that can sustain better living conditions.
He described the government’s wider objective as building a “New Economy”, which he said would reward work, encourage business growth and create opportunities for Ghanaians.
Following the engagement with organised labour, the minister reiterated that the government’s next task is to translate the gains from economic stabilisation into more visible improvements in employment and livelihoods.
“Through the New Economy, we will grow businesses, create opportunities and put the Ghanaian worker at the heart of our economic transformation,” he stated.
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