Dr. Cassiel Ato Forson defended the 2025 budget in Parliament, asserting its credibility and addressing NPP’s economic management criticisms. He highlighted unsustainable growth due to illegal mining and criticized the former administration’s record on domestic bond defaults. GHC28 billion has been allocated for the energy sector to clear debts and stabilize operations, setting the stage for intense parliamentary debate.
Finance Minister Dr. Cassiel Ato Forson has defended the 2025 budget, claiming it to be one of the most credible financial plans in Ghana’s history. He presented this budget to Parliament on March 11, 2025, and addressed criticisms in an interview with TV3, where he expressed confidence in the budget’s potential impact. Dr. Forson stated, “This is my first budget. Let’s see how the year ends and judge me,” emphasizing the delivery on promises made.
In his critique of the previous administration, Dr. Forson accused the New Patriotic Party (NPP) of basing their economic growth claims on unsustainable practices, particularly through illegal small-scale mining activities, known as galamsey. He remarked, “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.”
Reflecting on the legacy of the Akufo-Addo administration, Dr. Forson expressed disappointment, suggesting that the NPP should acknowledge the economic hardships faced by Ghanaians. He conveyed, “Maybe they [Akufo-Addo administration] don’t appreciate what they have caused the people of Ghana. I was rather expecting them to apologize and be remorseful for what they’ve done to the Republic of Ghana.”
Furthermore, Dr. Forson criticized the NPP for a historic default on domestic bonds, stating that this was unprecedented in Ghana’s governance history. He claimed, “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.”
Regarding the budget allocations, he indicated that GHC28 billion is designated for the energy sector to mitigate inherited debts and stabilize operations. 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.” Dr. Forson’s remarks signal an upcoming lively debate in Parliament as members prepare to evaluate the 2025 budget.
In conclusion, Finance Minister Dr. Cassiel Ato Forson has positioned the 2025 budget as a pivotal financial plan for Ghana, boldly defending its credibility against the backdrop of previous economic management. He criticized the NPP’s growth strategies while illuminating the significant allocations aimed at stabilizing key sectors. As Parliament prepares for rigorous discussions, the implications of this budget and its reception will play a crucial role in shaping Ghana’s economic landscape moving forward.
Original Source: 3news.com
