Finance Minister Dr. Cassiel Ato Forson presented the 2025 budget, asserting its credibility amidst criticisms of the previous NPP administration’s economic policies. He highlighted unsustainable growth attributed to illegal mining and emphasized a focus on stabilizing the energy sector with significant allocations. His comments foreshadow a contentious parliamentary debate regarding the budget.
In a recent address to Parliament, Finance Minister Dr. Cassiel Ato Forson characterized the 2025 budget as one of the most credible financial proposals in Ghana’s history. During an interview with TV3 on March 14, 2025, he responded to criticisms from the opposition New Patriotic Party (NPP) regarding their economic management.
Dr. Forson expressed confidence in the budget’s integrity, stating, “This is my first budget. Let’s see how the year ends and judge me. You’ll know that the 2025 budget will be one of the most credible budgets in the history of the Republic of Ghana because we promised and delivered.” His remarks intended to establish a clear contrast between his administration and that of the NPP.
The Finance Minister criticized the NPP’s claims of economic growth, citing illegal small-scale mining, or galamsey, as the primary contributor. He warned that reliance on such unsustainable practices jeopardizes the country’s economic future. “The growth NPP projected last year came from galamsey. If you’re growing on the back of illegal mining and you clap, that sort of growth isn’t sustainable,” he asserted.
Dr. Forson expressed disappointment in the legacy left by the Akufo-Addo administration, suggesting that the NPP should acknowledge the hardships they have caused for Ghanaian citizens. He stated, “Maybe they [Akufo-Addo administration] don’t appreciate what they have caused the people of Ghana. I was rather expecting them to apologise and be remorseful for what they’ve done to the Republic of Ghana.”
Moreover, he accused the NPP of damaging the nation’s financial credibility due to their historical default on domestic bonds. “NPP has a record of defaults and setting bad records. In the history of Ghana, no government has defaulted in the payment of domestic bonds before — except NPP,” he emphasized.
Regarding the budget’s allocations, Dr. Forson revealed that GHC28 billion has been designated for the energy sector, aiming to mitigate inherited debts and stabilize the industry. He explained, “We allocated GHC28bn to the energy sector because of what we inherited. The energy sector is churning out a debt of $2.2bn every year.” His comments indicate a forthcoming extensive discussion as Parliament prepares for a detailed review of the 2025 budget.
In summary, Finance Minister Dr. Cassiel Ato Forson asserted the credibility of the 2025 budget while criticizing the NPP for past economic mismanagement, especially regarding unsustainable growth driven by illegal mining. He emphasized the need for accountability and projected significant allocations towards resolving debts in the energy sector. His remarks set the stage for an intense legislative review of the proposed budget as the government aims to validate its economic strategy.
Original Source: 3news.com
