Finance Minister Defends 2025 Budget Amid Criticism of NPP’s Economy Management
Finance Minister Dr. Cassiel Ato Forson defended the 2025 budget, asserting its historical credibility while criticizing the NPP’s economic management and legacy. He attributed previous growth to illegal small-scale mining and highlighted the unprecedented default on domestic bonds. Significant funding for the energy sector was disclosed, indicating crucial discussions ahead in Parliament.
Finance Minister Dr. Cassiel Ato Forson defended the 2025 budget during a Parliament presentation on March 11, asserting it as one of the most credible financial frameworks in Ghana’s history. In an interview with TV3 on March 14, he addressed criticisms of the budget while criticizing the opposition New Patriotic Party (NPP) for their economic management.
Dr. Forson remarked, “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.” He attributed the NPP’s projected economic growth to illegal small-scale mining, or galamsey, and warned that such growth is not sustainable.
He expressed disappointment with the legacy of the Akufo-Addo administration, remarking, “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.” Dr. Forson underscored the NPP’s negative impact on Ghana’s financial standing, citing a historic default on domestic bonds.
Dr. Forson stated, “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 highlighted significant allocations in the budget, including GHC28 billion for the energy sector to address inherited debts, stating, “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 intense parliamentary debate regarding the 2025 budget.
In conclusion, Finance Minister Dr. Cassiel Ato Forson’s defense of the 2025 budget underscores its credibility amid criticism of the NPP’s economic policies. His statements regarding unsustainable growth due to illegal mining and the need for accountability reflect significant concerns about Ghana’s economic future. With substantial allocations for the energy sector, the upcoming parliamentary debate promises to be vital in addressing these pressing issues.
Original Source: 3news.com
