Dr. Cassiel Ato Baah Forson refutes claims by the NPP regarding a sustainable economy, emphasizing that the 5.7% growth in 2024 was largely due to illegal mining (galamsey). He cites GDP data indicating a 19.1% increase in the mining and quarrying sector, warning of the unsustainable nature of such growth.
Dr. Cassiel Ato Baah Forson, Ghana’s Minister of Finance, has disputed the New Patriotic Party’s assertion that they left behind a robust economy, citing a reported 5.7% economic growth in 2024. He emphasized that this growth is primarily attributed to illegal small-scale mining activities, known as galamsey, rather than sound economic management.
During the Parliament session on March 11, 2025, where he presented the 2025 Budget Statement and Economic Policy, Dr. Ato Forson highlighted the mining and quarrying sector as the principal contributor to this growth. He referenced preliminary Gross Domestic Product (GDP) data from the Ghana Statistical Service (GSS), published on March 10, 2025, to support his statement.
The provisional figures indicated that the mining and quarrying sector demonstrated a significant growth rate of 19.1%, facilitating the overall economic expansion. Dr. Ato Forson remarked, “Provisional 2024 GDP statistics published by the Ghana Statistical Service (GSS) on 10th March 2025 show that overall real GDP grew by 5.7% in 2024, compared to the growth rate of 3.1% recorded over the same period in 2023.”
He reiterated that while illegal mining contributed to this impressive statistic, it is not a sustainable path for future growth, cautioning against reliance on such activities. He concluded by underscoring the need for sustainable economic practices beyond the current reliance on galamsey.
In summary, Dr. Ato Baah Forson has clarified that the 5.7% economic growth in Ghana for 2024 is predominantly driven by illegal mining operations, notably galamsey. Although this growth appears robust, it raises concerns regarding sustainability and calls for improved economic management practices to ensure long-term stability and progress.
Original Source: www.gbcghanaonline.com
