Minority leader questions economic projections, says 2025 budget offers nothing new and brings no hope

The Minority in Parliament has strongly criticised the 2025 Budget Statement and Economic Policy, describing it as uninspiring and failing to provide clear solutions to Ghana’s economic challenges.

Reacting after Finance Minister Dr Cassiel Ato Forson presented the budget to Parliament on March 11, 2025, Minority Leader Alexander Afenyo-Markin dismissed the government’s economic projections and questioned its strategy for economic recovery.

“This afternoon, we have been presented with part two of the lamentation series. The first was ‘Mahamanomics,’ and now we have ‘Forcinomics,’” Afenyo-Markin said.

“Under the economy, they complain about, growth was 5.7 percent, but under their so-called reset economy, growth is projected to decline.”

The Minority Leader also challenged the government’s import cover projections, noting that while the previous administration left four months of import cover, the 2025 budget projects a decline to three months.

Afenyo-Markin criticised the government’s 24-hour economy policy, which was absent from the budget.

He argued that the Mahama administration had created false expectations, particularly among the youth, who were anticipating a clear roadmap for job creation.

“The President came here and told us the 24-hour economy was ready. The Finance Minister has now presented a budget, and there is nothing in it about this policy. The Minister tells us the plan will come later,” he stated.

He described the budget as an ‘Azaar Budget,’ suggesting that the government’s promises were merely ceremonial announcements with no concrete implementation plan.

“There is no hope in this budget. There is no inspiration. The youth were promised jobs, but today, the Finance Minister says the details will come later,” he added.

Unapproved road projects and calls for sanctions

Afenyo-Markin also accused the government of violating procurement laws in the road sector. He pointed to an ongoing project at Chain Homes, where a new roundabout is under construction, allegedly without a commencement certificate or Public Procurement Authority (PPA) approval.

“The Finance Minister spoke about sanctions against contracts awarded without commencement certificates, yet under his own administration, a new roundabout is being constructed at Chain Roads without the necessary approvals,” he stated.

“If there will be sanctions, they must start with his own ministers.”

He insisted that the government cannot selectively enforce procurement laws, adding that it must lead by example in ensuring compliance with the Public Financial Management (PFM) Act.

Minority demands clarity on economic recovery measures

Beyond the road sector concerns, the Minority also raised questions about the broader economic recovery strategy outlined in the budget. Afenyo-Markin argued that the government’s policies lacked clear implementation plans and measurable targets.

He accused the Mahama administration of repackaging old policies without introducing new initiatives to address the rising cost of living, unemployment, and exchange rate volatility.

“This budget is merely a repetition of existing social intervention programmes,” he said. “The government must tell Ghanaians exactly how they intend to improve the economy beyond what has already been done.”