Energy sector, a “ticking time bomb” – Finance Minister
Dr Cassiel Ato Forson, the Finance Minister, says Ghana’s energy sector is facing a critical financial crisis, described as a “ticking time bomb,” largely due to non-cost reflective tariffs and unsustainable energy subsidies.
He highlighted the sector’s dire financial state, noting that the projected cumulative financial shortfalls were expected to exceed nine billion dollars by 2026, even with government’s interventions.
Dr Forson said this on the first leg of the two-day National Economic Dialogue ongoing at the Accra International Conference Centre.
“The energy sector in Ghana has become a ticking time bomb. More than two per cent of GDP every year. Every year, the profits of the energy sector will probably fall back on the legal side. For citizens, we require radical measures,...
