Market women are the best economists – Ato Forson

Dr. Ato Forson Hails Market Women as Ghana’s Best Economists

Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has praised market women as the country’s best economists, highlighting their ability to navigate complex financial systems with remarkable success. Speaking on JoyNews’ PM Express after presenting the 2025 Budget to Parliament on March 11, 2025, he emphasized the vital role traders play in Ghana’s economy.

Market Women: The True Experts in Economics

Dr. Forson explained that traders demonstrate exceptional financial acumen through their hands-on experience in buying and selling, managing supply chains, and adapting to economic fluctuations.

“The best economists in this country are market women. They have tried it, they’ve tested it, and they have been successful at it. So, to me, they are the best economists you can ever see around,” he stated.

Insights from Stakeholder Consultations

The 2025 Budget, themed “Resetting the Ghana We Want,” was developed through extensive consultations with key stakeholders, including economic think tanks, traders, and the National Economic Forum.

Dr. Forson revealed that one of the most pressing concerns raised during these engagements was how the government intended to address the financial struggles of ordinary Ghanaians. This motivated him to seek firsthand perspectives from grassroots business operators.

Why the Finance Minister Visited Makola Market

Addressing why he specifically visited Makola Market before finalizing the budget, Dr. Forson recounted a directive from former President John Mahama to engage beyond academia and policy circles.

“The question that kept coming up was how the government is going to address the needs of the people. We held a series of meetings to ascertain the needs of the people. Then His Excellency John Mahama advised that I engage further. I thought we should go beyond think tanks and high-level experts, so I decided to visit the Makola Market,” he explained.

Exchange Rates: The Traders’ Biggest Concern

One of the key takeaways from his market visit was the deep understanding traders had of how exchange rate fluctuations directly impact pricing and business stability.

“What strongly stood out for me on my visit to Makola Market is the fact that most of the business owners were women,” he added.

Many traders expressed their biggest challenge as the volatility of the Ghana cedi, emphasizing that stabilizing the currency would significantly help curb erratic price increases.

“According to the traders, if the government is able to stabilize the Ghana cedi as promised, they will be able to address the erratic price hikes of their goods,” Dr. Forson noted.

A Practical Approach to Economic Policy

Dr. Forson’s engagement with market traders underscores the government’s commitment to crafting policies based on real-life economic conditions rather than solely relying on theoretical analysis. His remarks have sparked discussions on the importance of grassroots economic insights in shaping national fiscal strategies.

As the government seeks to implement measures from the 2025 Budget, the perspectives of Ghana’s market women may prove instrumental in achieving economic stability and growth.

SOURCE : RAYSOFHOPERADIO.COM