Macroeconomic stability key to jobs, investment and industrial growth – Ato Forson
Finance Minister Dr. Cassiel Ato Forson has stated that Ghana’s efforts to maintain macroeconomic stability are aimed not only at improving fiscal indicators but also at creating jobs, attracting investment, and driving broad-based industrial growth.
According to him, macroeconomic stability remains essential for economic transformation, investor confidence, and private sector expansion, stressing that sustained stability is necessary to unlock growth and strengthen Ghana’s productive capacity.
Speaking at the Ishmael Yamson & Associates Business Roundtable on Thursday, May 28, Dr. Forson reaffirmed government’s commitment to maintaining economic stability and promoting sustainable private sector-led growth.
“In Ghana, we remain committed to sustaining macroeconomic stability, strengthening investor confidence, enhancing fiscal discipline and creating the conditions for sustainable private sector-led growth,” he said.
“Because we recognise that macroeconomic stability is a foundation for jobs, investments, industrialisation and opportunities,” he added.
The Finance Minister stressed that the ultimate objective of economic transformation should be the creation of quality jobs and improved living standards for citizens.
“The ultimate purpose of economic transformation is to ensure that the creation of quality jobs and improved standards of living becomes the new order, and that is the purpose of macroeconomic stability,” he stated.
Dr. Forson also highlighted several structural challenges confronting African economies, warning that fragmentation and weak coordination continue to limit competitiveness and industrial growth across the continent.
According to him, stronger integration through efficient institutions, payment systems, and policy coordination is necessary to support Africa’s economic development.
“Efficient borders, payment systems, policy coordination and trust actually create integration,” he noted.
He questioned whether African businesses can compete effectively on the global stage under current structural and logistical constraints.
“Can African businesses compete globally if transport costs remain among the highest in the world?” he asked.
“Can Africa’s manufacturers scale their markets if those markets remain fragmented? Can we build continental champions without harmonising regulations and integrating capital markets?” he further questioned.
Dr. Forson noted that the global economy is increasingly being shaped around regional blocs, integrated supply chains, and economic resilience, warning that Africa risks falling behind if reforms are delayed.
“The world is reorganising around regional blocs, supply chains, strategic autonomy and economic resilience. Africa must not arrive late again, and we need to stop becoming habitual latecomers,” he said.
He further stressed that sustaining macroeconomic stability would require strong governance reforms capable of strengthening institutions and boosting investor confidence.
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