Member of Parliament for Karaga and former Finance Minister, Dr. Mohammed Amin Adam, has dismissed the 2025 Mid-Year Budget Review presented by Finance Minister Dr. Cassiel Ato Forson as ‘a propaganda piece laced with half-truths and untruths.’
Dr. Amin Adam questioned the rationale behind seeking parliamentary approval, arguing that the Minister did not present a supplementary budget and therefore had nothing new for Parliament to approve.
“How do we approve a multi-year commitment when we don’t even know the amount dedicated to each of the projects?” he asked, noting the absence of cost breakdowns, contractor details, and budgetary implications.
He criticized the government’s failure to release funds for key flagship programmes despite prior budgetary allocations. Citing examples, he revealed:
- National Apprenticeship Programme: GH¢300 million budgeted, GH¢21 million released (7%).
- YouStart (Ejuma Pa) Programme: GH¢100 million budgeted, GH¢34.5 million released.
- Feed Ghana & Agricultural Initiatives: GH¢1.5 billion budgeted, zero released.
- Women’s Development Bank: GH¢51.3 million budgeted, zero released.
- National Coders Programme: GH¢100 million budgeted, zero released.
- Big Push Infrastructure Project: GH¢13.8 billion allocated, zero disbursed.
“The Minister has not shown enough commitment to fund the projects they promised Ghanaians. It is sad,” he lamented.
The Karaga MP also expressed disappointment that no road projects in the Northern Region were initially included under the Big Push programme, despite the overwhelming electoral support the NDC received from the region. He noted that it was only after sustained criticism that two small road projects, including the Tamale Ring Road, were added at the last minute.
He also criticized the government’s handling of the newly established Gold Board, revealing that although $279 million was allocated, not a single cedi had been released. He said all operations have been pre-financed by the Bank of Ghana, with no financial support yet from the Ministry of Finance.
On the NDC’s flagship 24-hour economy policy, Dr. Amin Adam accused the government of launching ambitious programmes without the necessary financial backing. “The 24-hour economy was launched with fanfare and glossy brochures but without a budget. The mid-year review confirms that funding will only be sought in the 2026 budget. So why was it launched?,” he said.
He blamed the failure to fund these initiatives on poor fiscal management and auction shortfalls, revealing that of 28 treasury auctions held in the past six months, 13 failed. “The money meant for these programmes is being used to cover auction shortfalls instead,” he added.
Dr. Amin Adam also pointed to a policy misalignment between the Ministry of Finance and the Bank of Ghana, noting, “While the Minister is borrowing at 15%, the Bank of Ghana is lending at 28%. That misalignment is killing investor confidence.”
Responding to claims that Ghana’s debt-to-GDP ratio had declined from 61.8% to 43% within six months, he argued, “You haven’t paid a single cedi of Ghana’s debt stock. The reduction is due to the $5 billion debt cancellation we negotiated under the NPP.”
He slammed Dr. Forson for taking credit for Ghana’s credit rating upgrade by Fitch, pointing out the irony that the Finance Minister is now celebrating the benefits of a debt restructuring exercise he once vehemently opposed in opposition.
The former Finance Minister urged the government to demonstrate sincerity and commitment and take the people of Ghana seriously. “Release the funds and implement what you promised. Don’t ride on propaganda,” he said.