The New Patriotic Party (NPP) Minority Caucus in Parliament has accused the government of allegedly manipulating fiscal data to create a false narrative about the state of the economy inherited from the previous NPP administration.
This was announced on Thursday at a press conference organized by the Caucus and members of the NPP in Parliament House, Accra.
It was addressed by Dr Mohammed Amin Adam, NPP MP for Karaga; Dr Gideon Boako, NPP MP for Tano North; Madam Abena Osei Asare, NPP MP for Atiwa East and Mr Kojo Oppong Nkrumah, NPP MP for Ofoase-Ayirebi, to express their concerns regarding the 2025 Budget Statement and Economic Policy presented by the Finance Minister, Dr Casiel Ato Baah Forson.
“We have been vindicated. Our intelligence has been confirmed, and the minister has done the hatched job,” stated Dr Amin Adam referencing the Caucus’s earlier claims of the government’s alleged intentions to manipulate fiscal data.
The Minority pointed out discrepancies in the fiscal deficit and primary deficit figures presented in the budget, alleging that the government had included GH¢49.2 billion in expenditure claims without proper verification or auditing.
“This renders the 2025 Budget as not credible and requiring serious scrutiny by the IMF and the Ghanaian people,” Dr Amin Adam emphasised.
The Caucus also expressed concerns about the government’s projection of a lower growth rate of four per cent for 2025, despite the implementation of the government’s “Big Push Infrastructure Programme” costing GH¢13.8 billion.
The Minority questioned the government’s decision to project a lower growth target, suggesting that it may be an attempt to easily outperform the target and attribute the success to their own policies.
“We encourage them and the IMF to relook at the real GDP growth projections again, especially mining and quarrying data,” Dr Amin Adam urged.
The press conference also highlighted the Minority’s concerns regarding the government’s debt management strategy, citing the potential risks of borrowing from the markets and the impact of the alleged manipulated fiscal data on Ghana’s sovereign bond spreads.
The Minority cautioned the government against derailing the country’s progress towards sustainable debt levels, referencing the previous NPP administration’s achievements in reducing the debt-to-GDP ratio to 61.8 per cent in 2024.
“We wish to advise the Minister to tread cautiously in order not to derail our march to sustainable debt levels,” Dr Amin Adam warned.
The Minority called on the International Monetary Fund to scrutinise the government’s fiscal data and ensure transparency in their growth projections, emphasising the need for credibility and accountability in the management of Ghana’s economy.
