Finance Minister Dr. Cassiel Ato Forson has called on businesses to lower prices following significant stabilisation of the cedi and inflation, attributing recent economic gains to deliberate government intervention.
Delivering the mid‑year budget review in Parliament on Thursday, July 24, Dr Forson reminded businesses of the government’s campaign promise “to be remembered for stabilising the exchange rate, ensuring low prices and creating jobs.”
He acknowledged the exchange rate concerns raised by traders at the Makola Market ahead of the 2025 budget presentation, noting that exchange-rate volatility and price hikes topped their list of worries.
“The updates on the cedi and the prices … clearly show that we have taken deliberate and decisive actions to ensure that the challenges with exchange rate and prices are tackled head-on,” he stated.
Dr Forson said the stabilisation of the cedi is clearly visible and promised that these gains will be sustained.
He added that, “Government has worked hard to bring down and stabilise the exchange rate with deliberate policies. It is now time for businesses to bring down prices to reflect the new economic reality.”
He acknowledged that businesses had made sacrifices during the economic turbulence, but stated that ordinary Ghanaians had done the same.
The Finance Minister urged traders to adjust their prices accordingly, saying, “It is now time for prices to come down to reflect the new economic realities for the benefit of all Ghanaians.”
He further said the country will benefit from stronger investor confidence, higher job creation, and a growing reputation in the region and internationally.
Dr Forson also reiterated the importance of faith in the national currency, reflecting on six decades of the cedi’s resilience through inflation, devaluation, redenomination, and recovery.
“For 60 years … the cedi has remained the symbol of our sovereignty: it has endured; it has evolved; and it remains the only legal tender of our Republic,” he said.
“We believe in the cedi. Fellow countrymen and women, believe in the cedi,” he added.
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