Finance Minister Dr. Cassiel Ato Forson asserts that the 2025 budget is one of Ghana’s most credible financial blueprints, criticizing the NPP for relying on illegal mining for economic growth and failing to address past financial defaults. He highlights key allocations for the energy sector as part of his strategy to manage inherited debts.
Finance Minister Dr. Cassiel Ato Forson defended the 2025 budget presented on March 11, calling it one of Ghana’s most credible financial plans. In an interview with TV3, he invited scrutiny of the budget’s implementation, asserting, “This is my first budget. Let’s see how the year ends and judge me.” He expressed confidence in the budget’s integrity by stating that it was delivered as promised.
Dr. Forson criticized the economic growth claimed by the opposition New Patriotic Party (NPP), attributing it to illegal small-scale mining, known as galamsey. He cautioned that relying on such unsustainable practices jeopardizes the economy: “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.”
Highlighting his disappointment with the previous administration, Dr. Forson expected the NPP to acknowledge the difficulties faced by Ghanaians during their term. He remarked, “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.”
The Finance Minister further accused the NPP of damaging Ghana’s financial reputation, noting that they defaulted on domestic bonds, which marks an unprecedented occurrence in Ghana’s history: “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.”
Addressing budget allocations, Dr. Forson announced that GHC28 billion is set aside for the energy sector to manage inherited debts. He stated, “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 statements indicate a contentious debate ahead as Parliament prepares to examine the budget in detail shortly.
In conclusion, Finance Minister Dr. Cassiel Ato Forson has positioned the 2025 budget as a credible plan amidst criticisms aimed at the NPP’s economic management. His focus on the unsustainable nature of growth linked to illegal mining highlights the need for more robust economic strategies. The Finance Minister’s remarks reveal his commitment to addressing inherited challenges, particularly in the energy sector, while setting the stage for an intense parliamentary debate.
Original Source: 3news.com
