Dr Cassiel Ato Forson
The excitement among Ghanaians was eventually over by the time the Finance Minister was done with the presentation of the 2025 Budget Statement.
It was an hour and thirty minutes presentation with the Finance Minister full of excitement, attempting to punch holes in the previous government handling of the economy where he could.
The lamentations visible in the President’s engagement with various strata of Ghanaians since taking over power was not lost in the Finance Minister’s presentation.
We were shocked but unsurprised at the high dose of propaganda in the presentation, especially in the social intervention segment which was an enhancement of existing standards started by the outgone administration.
Governance being a continuum, we congratulate the Mahama government for building upon what their predecessors commenced in previous times, at least on paper.
When it comes to implementing these and in the light of the abolishing of key sources of revenue, it would be interesting to watch how the government would manoeuvre the complex minefield of finance.
We recall the advice given the government to avoid making false presentations because the Ghana Statistical Service’s figures are out and reflect the positive strides of the previous administration.
We were pleased to hear the veiled acknowledgment of the strides made by the previous government.
The Free Senior High School (SHS), which the National Democratic Congress (NDC) campaigned against vigorously and even labeling it as a 419 project, is going to be maintained as contained in the project. Of course the importance of this social intervention has dawned upon the government to the extent that could they apologise for demonising the policy, they would have done so.
Announcing a significant reduction in the country’s debt-to-GDP ratio in 2024 during his presentation, Dr. Cassiel Ato Forson inadvertently dealt a blow to the President’s so-called ‘criminally managed economy’ label festooned around the neck of the Akufo-Addo-run Ghana.
Those responsible for posting economic strides such as the foregone deserve plaudits and lambasting as President Mahama did when he met labour leaders.
To ice the cake, the Finance Minister stated that the achievement was the result of deliberate fiscal policies implemented by the government. Not of course the Mahama government whose policies have not taken off let alone achieve such strides.
The minister’s position in his statement however that “the reduction in the debt-to-GDP ratio is the result of our commitment to restoring macroeconomic stability and ensuring a sustainable debt trajectory” is as befuddling as it is mendacious.
We observed the futile efforts of the Finance Minister at explaining to Ghanaians what the 24-hour economy policy stands for. The review of existing laws such as the Labour Act among others to facilitate the takeoff of the policy does not make the understanding of the policy any better.
The 24-hour economy will remain enigmatic until we see its implementation and the so-called dividends to emanate thereof.
The claim of achieving so much within a short time of their being in power as stated by the Finance Minister is not convincing and passes for a piece of propaganda, something the NDC has mastery over.
In terms of fiscal or economic advancement, which the Finance Minister stated his government has made, we wish to mention that this can only be measured or determined when the current policies come to fruition.
The only achievement the government can lay claim to, is the state of lawlessness which the country has been thrown into and breaches of the rule of law rampant since the NDC took over the reins of power.
We know how challenging it is for the NDC to depart from acts of populism, which traits were not difficult to determine from the minister’s presentation yesterday.
In the coming days, we shall have a lot to comment about the drastic reduction in the cost of kenkey or taxes on imported cars.