Minister of Finance, Dr Cassiel Ato Forson, has stated that Ghana's ability to respond to recent fiscal and external shocks was significantly weakened due to the depletion of financial buffers before the current administration took office.
Presenting the 2025 Mid-Year Budget Statement to Parliament on Thursday, July 24, 2025, Dr Forson said the economic safety mechanisms that should have cushioned the country against crises had been severely compromised before the ruling NDC government came into power. "At the time we took over, the buffers needed to cushion us against fiscal and external shocks had been depleted.
Some had been drawn down completely, others collateralised, and others simply non-existent," he said.
He noted that this lack of a financial safety net left the new administration with limited options to address rising debt levels, revenue shortfalls, and global economic turbulence. "This government was literally handed an economy with no airbag.
