Cape Coast South MP Kweku George Ricketts-Hagan has stated that Ghana’s economy was already in crisis before the National Democratic Congress (NDC) assumed office on January 7, 2025.
According to him, the Mahama administration has since taken deliberate steps to restore economic stability, including the introduction of the Gold Bond initiative.
Ricketts-Hagan also expressed surprise over suggestions that some opposition lawmakers may boycott the mid-year budget review, which he says had been scheduled and advertised well in advance.
However, Nhyiaeso MP Dr. Stephen Amoah disagrees, arguing that Ghana’s economy was showing signs of recovery before the NDC took over. He urged Finance Minister Dr. Cassiel Ato Forson to present an honest account in the mid-year budget, warning against propaganda and urging transparency in portraying the country’s economic reality.
Dr. Amoah also raised concerns over disparities in exchange rates between black markets, commercial banks, and forex bureaus.
Old Tafo MP Ekow Vincent Assafuah called on the Finance Minister to scrap the COVID-19 Levy, in line with promises made by the Mahama administration. He also pressed the government to present clear measures to curb foreign exchange leakages to the black market.
Supporting this call, Ghana Agricultural Workers Union General Secretary Edward Kareweh noted that the Cedi has recently shown signs of gaining strength against the Dollar and urged the government to maintain that stability.
Meanwhile, Sagnarigu MP Issah Atta has assured Ghanaians that the government does not intend to introduce new taxes in the mid-year review.
The 2025 mid-year budget, to be presented today by Finance Minister Dr. Cassiel Ato Forson, is expected to outline the impact of the Mahama administration’s policies, provide an update on the national debt situation, job creation efforts, and highlight both the gains and ongoing challenges from the 2025 fiscal year.
Dr. Forson has emphasized that concrete measures have been taken to stabilize the economy—particularly regarding inflation and exchange rate fluctuations. He is also expected to reflect on the administration’s promises and pose a key question: Is the government delivering the impact Ghanaians were promised?
