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I Will Not Borrow For Consumption But For Transformative Projects- Ato Forson
Finance Minister Dr Cassiel Ato Forson has pledged a new era of fiscal discipline, declaring that future government borrowing will be dedicated solely to projects with long-term economic and social impact.
Speaking during a courtesy call by the President of the Arab Bank for Economic Development in Africa (BADEA), H.E. Abdullah Kh Almusaibeeh, Dr Forson stressed that borrowing for recurrent expenditure is no longer an option for Ghana.
“I will not borrow for consumption but for transformative projects,” the minister affirmed, explaining that the strategy aims to strengthen Ghana’s growth trajectory and restore debt sustainability.
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As part of this commitment, Dr Forson disclosed that feasibility studies are underway for a new Accra–Kumasi motorway, which he described as a flagship infrastructure priority. The project, expected to be completed within two and a half years, will form part of broader efforts to channel external financing into ventures that boost productivity, competitiveness, and investor confidence.
H.E. Almusaibeeh of BADEA welcomed Ghana’s focus on impactful investments, reaffirming the Bank’s readiness to support projects that drive sustainable development across Africa.
The renewed fiscal direction comes at a time when Ghana’s public debt stock rose by GH¢15.8 billion in July 2025, reaching GH¢628.8 billion ($59.9 billion). This represents 44.9% of Gross Domestic Product (GDP) and reverses three consecutive months of debt declines, previously aided by a strong cedi.
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