The New Patriotic Party (NPP) is challenging the credibility of the country’s fiscal data, following the presentation of the 2025 Budget and Fiscal Policy by Finance Minister Dr. Cassiel Ato Baah Forson. Former Finance Minister Dr. Mohammed Amin Adam has raised concerns that the figures contained in the budget lack transparency and credibility.
At a press conference organized by the New Patriotic Party (NPP) Minority Caucus in Parliament, Dr. Amin Adam questioned the fiscal projections outlined in the budget, particularly the projected Gross Domestic Product (GDP) growth rate of at least 4.4% for the 2025 fiscal year. He argued that this projection falls below the 5.7% growth rate recorded in 2024 under the previous administration.
Dr. Amin Adam also criticized the government for failing to acknowledge the improved debt management measures implemented by the NPP administration, which successfully reduced Ghana’s debt-to-GDP ratio to 61.8% by the end of 2024. He expressed surprise that the government had announced its return to the bond market without acknowledging the enhanced debt environment created by the previous administration.
The former Finance Minister further alleged that the government had manipulated fiscal data to support its claims of inheriting a badly managed economy from the previous NPP government. He pointed out that the government’s inclusion of GHs49.2 billion in expenditure claims without proper verification or audit was a clear lack of understanding of the mechanics of the fiscal framework.
Dr. Amin Adam called on the International Monetary Fund (IMF) to speak out on the matter, emphasizing the need for transparency and accountability in Ghana’s fiscal management. He also urged the government to explain its methodology for computing fiscal balances, which he claimed did not align with the IMF’s technical memorandum.
Ruth Abla ADJORLOLO
