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Former Majority Leader, Hon. Osei Kyei Mensah-Bonsu, has sharply criticized the 2025 Budget presented by Ghana’s Finance Minister, Dr. Cassiel Ato Forson, describing it as deceptive and misleading to Ghanaians.
Speaking on the economic outlook under the new budget, Mensah-Bonsu raised concerns over Ghana’s growing public debt, stating that the figures presented do not reflect the true state of the economy. He noted that while the Akufo-Addo administration managed public debt at GH₵8.1 billion, it has now surged to GH₵29.2 billion under the Mahama-led administration.
“The figures in the budget raise serious questions about economic management and fiscal discipline. The public debt situation is alarming, and this budget does little to address the core issues affecting the economy,” Mensah-Bonsu stated.
He further highlighted the country’s Gross Domestic Product (GDP) growth, stating that it has now reached GH₵1.2 billion, with the Akufo-Addo administration achieving a notable 45% growth rate during its tenure. However, he expressed skepticism about the projections made in the 2025 budget, arguing that they fail to provide a clear path to economic stability.
Despite these concerns, Finance Minister Dr. Cassiel Ato Forson has defended the budget, assuring Ghanaians that the government is committed to reducing spending and implementing fiscal discipline. He stated that the 2025 budget outlines significant cuts in government expenditure compared to the 2024 fiscal year, aiming to control the deficit and stabilize the economy.
The budget debate is expected to intensify in the coming weeks, with stakeholders from various sectors analyzing the government’s fiscal policies and their potential impact on Ghana’s economic trajectory.
