Finance Minister Dr Cassiel Ato Forson has dismissed claims that traders are struggling to sell their goods due to weak consumer demand, insisting that available economic data does not support such assertions.
Speaking during an interactive engagement with students and members of the university community at the Kwame Nkrumah University of Science and Technology (KNUST), he described reports of declining sales as propaganda, arguing that the trade sector continues to record growth.
Dr Ato Forson urged critics to examine the country’s Gross Domestic Product (GDP) figures, which he said indicate positive growth in trade, contrary to claims about worsening business conditions.
He also pointed to falling prices of goods and services, arguing that the development is helping to improve consumers’ purchasing power and making essential commodities more affordable.
“If you look carefully at the growth numbers, the GDP growth numbers, and analyse them carefully, you see that trade is growing. Trade is growing, and what is being said is not supported by empirical evidence. There’s no evidence to it,” he said.
He added that market women could attest to the improvement in prices, noting that consumers were now better positioned to afford food and other essential items.
The Finance Minister further said his priority was to ensure that public funds were directed towards productive sectors of the economy rather than relying heavily on borrowing to finance government expenditure.
He cautioned against a return to what he described as unsustainable borrowing practices, warning that excessive borrowing could threaten the country’s economic stability.
Dr Ato Forson maintained that the performance of the economy should be assessed using available economic indicators, particularly GDP growth figures, rather than claims he said were not backed by empirical evidence.
