Minister for Local Government, Chieftaincy and Religious Affairs, Ahmed Ibrahim, has declared the 2026 Budget Statement and Economic Policy as the most impressive he has witnessed in his 17 years in Parliament.
The Banda MP argued that the Mahama-led administration has restored macroeconomic stability after what he described as years of economic decline under the previous government.
“Mr Speaker, the 2026 budget statement is the best in my 17-year stay in this House. There is no controversy about this,” he said during the debate last Friday.
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Contributing to the budget debate in Parliament last Friday, Hon. Ibrahim referenced the 2011 Budget Statement under the late President Prof. J.E.A. Mills and then-Vice President John Dramani Mahama, noting that Ghana met three out of the four ECOWAS primary convergence criteria that year for the first time.
He stressed: “Mr Speaker, what we could not achieve from 2000, the NDC did in 2011. For the first time, Ghana met three out of four primary convergence criteria. What eluded us for nine years, we achieved in 2011.”
He argued that the NDC built a strong economic foundation, but the NPP administration overturned this effort.
Turning to page 9, paragraph 45 of the 2026 Budget, Ahmed Ibrahim hailed Ghana’s improved economic performance by the third quarter of 2025.
“By Q3 2025, Ghana had met five out of the six ECOWAS convergence criteria—a marked improvement from 2024,” he said. The achieved indicators include: Budget deficit: 3% (below the 3% threshold); Zero central bank financing; Gross external reserves: 8 months import cover; Exchange rate stability: within the 10% band; Public debt: 69% of GDP (below the 70% threshold); and Inflation, with an average of 18.5%, was the only unmet criterion.
“If we achieved five out of six, and you couldn’t do it, then between us and you, who are the best managers of the economy? The case is settled,” he stated confidently.
The Minister revisited criticism by former President Akufo-Addo, who previously accused international rating agencies of unfairly downgrading Ghana.
“President Akufo-Addo cried that Moody’s and S&P were biased. But we have not changed the examiners. The same examiners have upgraded us. What you couldn’t do, we have done,” he said.
He listed recent upgrades by Standard & Poor’s (S&P), Moody’s, and Fitch Solutions, insisting that these independent assessments affirm the Mahama administration’s economic competence.
“Never compare yourself with the NDC on the economic front again. We are the best managers of the economy. The records are showing,” he added.
In a sharp jab at the NPP Minority caucus, Ahmed Ibrahim suggested they lacked faith in their own Finance Minister.
“Even you cannot see your finance minister to bring you your results. Where are they? But we are here with our results,” he teased.
Ahmed Ibrahim maintained that the 2026 Budget demonstrates a decisive return to disciplined fiscal management, strengthened monetary policy, and renewed global confidence in Ghana’s economic trajectory.
According to him, rating agencies, convergence criteria, and the data itself have vindicated the Mahama government’s approach.