Dr. Ato Forson Reassures Stability in Ghana’s Economy, Urges Food and Beverage Sector to Reduce Prices
In a bid to alleviate the cost-of-living pressures faced by ordinary Ghanaians, Finance Minister Dr. Cassiel Ato Forson met with the leadership of the Food and Beverage Association of Ghana (FABAG) on May 8. The meeting, described as “frank and productive,” centered on discussing the state of the economy, food pricing, and collective measures to ease the financial burden on Ghanaians.
Dr. Forson reassured FABAG members that the recent appreciation of the cedi and stabilization of key economic indicators were the result of “deliberate, well-thought-out planning and prudent economic management.”
He emphasized that “this stability is here to stay,” dispelling any notion that the improvements were temporary or reactive.
Dr. Forson also urged FABAG to accelerate price reductions at the retail level, stressing that “food prices, which had been unreasonably high, must start to fall drastically.” He welcomed reports that some members had already begun lowering their rates and appealed to other trader groups, including the Ghana Union of Traders’ Associations (GUTA), to follow FABAG’s lead and work together to pass the benefits on to Ghanaians.
Dr. Forson outlined structural reforms underway to ease cost pressures, including reviewing port charges and levies, as well as combating smuggling. He endorsed FABAG President John Awuni’s call for “a national campaign for price reduction,” affirming that the Ministry of Finance’s focus “is clear: we must translate strong macroeconomic gains into real, tangible relief for our people.”
