Dr. Mohammed Amin Adam
The Minority in Parliament has criticised the government’s Mid-Year Fiscal Policy Review, describing it as detached from the real hardships faced by ordinary Ghanaians.
Addressing the press yesterday following the Finance Minister’s presentation, Minority MPs said the review painted a misleading picture of economic recovery and stability.
According to them, the economic reality on the ground contradicts the upbeat narrative shared in Parliament. “If drivers were listening, they would question the credibility of the Finance Minister,” a spokesperson noted, pointing to the nearly GH₵4.00 now paid per gallon of petrol despite promises of lower fuel prices.
Former Finance Minister, Dr. Mohammed Amin Adam, who led the group, also highlighted that electricity tariffs have gone up by 17 percent in the first half of 2025, contrary to the government’s earlier assurances that consumers would not bear the brunt of inefficiencies in the energy sector.
“The Ghanaian people are asking – whose reality is the Finance Minister describing? It certainly isn’t theirs,” he emphasised.
They further described the review as “self-promoting” and “insensitive,” citing growing public frustration, abandoned infrastructure, and persistent economic strain, which they say have been ignored in the fiscal update.
Policy U-Turns
The Minority also accused the Finance Minister, Dr. Ato Forson, of breaking promises made earlier this year, claiming that his Mid-Year Budget Review reflects blatant policy reversals.
The Minority said during the Economic Dialogue in March, the Minister assured Ghanaians that inefficiencies in the power sector would not lead to increased tariffs. However, electricity bills have climbed 17% within six months. “This is a betrayal of public trust,” the Minority said.
Similarly, the introduction of the “Dumsor levy” and the failure to lower petrol prices, despite earlier commitments, have drawn public criticism. “Today, every Ghanaian pays nearly GH₵4.00 more per gallon. That is the cost of broken promises,” they lamented.
The Minority also pointed to unfulfilled commitments on port duties. “Spare parts dealers are still waiting for relief at the ports. All they’ve received are rising costs and government silence,” the caucus stated.
They insisted that this pattern of reversals reveals a worrying trend of inconsistency and deception, eroding public confidence in the government’s policy direction.
Minister’s Claim to Credit Rating Upgrade
The Minority challenged the Finance Minister’s claim of credit for Ghana’s recent credit rating upgrade by Fitch, describing it as an attempt to benefit from reforms initiated by the previous New Patriotic Party (NPP) administration.
They described the Minister’s self-congratulatory tone as “premature and misleading.” They pointed to Fitch’s own statement, which attributed the upgrade to Ghana’s successful restructuring of US$13.1 billion in Eurobonds – a process completed in October 2024 under the NPP government.
“The Finance Minister was not even in office when the restructuring deal was concluded. How can he now claim the outcome as his achievement?” the Minority questioned.
They also took issue with what they called the Minister’s hypocrisy – criticising the NPP for debt restructuring, only to later praise the benefits of the same process. “You cannot insult the process and then pose for photo ops when the fruits are borne. It’s dishonest,” they said.
The Minority warned that such revisionism erodes public trust in governance, and called for acknowledgment of past efforts that laid the groundwork for the country’s credit recovery.
By Ernest Kofi Adu, Parliament House