The Minority caucus in Parliament says the budget statement and economic policy of government for the year ending December 31, 2025 is empty and does not inspire confidence in the administration to address the economic challenges of the country.
“There is no inspiration in this budget. There is no hope in this budget,” Minority Leader, Alexander Afenyo-Markin, said on the floor of Parliament in Accra yesterday.
He was reacting to the budget statement as presented by the Finance Minister, Dr Cassiel Ato Forson, to the House yesterday.
Dr Forson, MP for Ajumako/Enyan/Esiam, among other things told the House that the economy was debt-ridden but assured that the government would fix it.
According to Dr Forson, the economy remained in the doldrums contrary to claims by the opposition that it had been turned around.
“Mr Speaker, we inherited an economy in deep crisis, hard hit with debt and beset by other fiscal challenges such as large accumulation of Ministry Departments and Agency arrears and payables, energy sector financing shortfalls, and large fiscal risks from the cocoa and financial sectors,” he said.
But the Minority Leader said the budget statement was a cocktail of lamentations without a clear path to address the catalogued challenges.
“It is very clear Mr Speaker, that under the economy that they complained about, the growth was 5.7 per cent and under a reset economy, the growth is rather [being projected] going down.
“The economy they complained about left us with four months of import cover and under reset, they are projecting three months,” he said.
Describing the budget as a “scam,” Mr Afenyo-Markin said it was unthinkable that the NDC government which left huge debts in the energy sector was promising to renegotiate debts owed independent power producers.
He wondered why the 24-hour economy policy was not ready for scrutiny of the House stressing that “it is now clear that all the jobs they promised the youth was merely a scam”.
But the Majority Leader and MP for Bawku Central, Mahama Ayariga, said the budget would stabilise the economy and provide the enabling environment for the private sector to thrive and create the needed jobs.
“This clearly is a budget of a government and a party that keeps its promises. Almost every promise that was made by John Dramani Mahama is being fulfilled in less than 120 days.
“This budget is a budget for Makola women, assembly men, girls, and school children. This is a budget that delivers solid reforms to deliver real growth.
“This is a budget that gives hope to Ghanaians, stabilise the economy, and create jobs for the youth of this country,” the Majority Leader stressed.
BY JULIUS YAO PETETSI
