Finance Minister Dr. Cassiel Ato Forson Defends 2025 Budget, Slams NPP's Economic Record

Finance Minister Dr. Cassiel Ato Forson has vehemently defended the 2025 budget, describing it as one of the most credible financial blueprints in Ghana's history. 

In an exclusive interview with TV3 on Friday, March 14, 2025, Dr. Forson addressed key concerns raised about the budget and launched a scathing critique of the opposition New Patriotic Party (NPP) over their handling of the economy during their tenure in office.

"This is my first budget. Let's see how the year ends and judge me," Dr. Forson stated, exuding confidence in his fiscal plan. "You'll know that the 2025 budget will be one of the most credible budgets in the history of the Republic of Ghana because we promised and delivered."

Dr. Forson also disparaged the NPP's touted economic growth, attributing it to illegal small-scale mining (galamsey), which he warned is not a sustainable path for the country's economy. "The growth NPP projected last year came from galamsey. If you're growing on the back of illegal mining and you clap, that sort of growth isn't sustainable," he astutely observed.

The Finance Minister expressed disappointment with the Akufo-Addo administration's legacy, noting that he expected the opposition to show remorse for the hardships imposed on Ghanaians.

"Maybe they [Akufo-Addo administration] don't appreciate what they have caused the people of Ghana. I was rather expecting them to apologise and be remorseful for what they've done to the Republic of Ghana," Dr. Forson lamented.

Furthermore, Dr. Forson accused the NPP of tarnishing Ghana's financial reputation by defaulting on domestic bonds a historic first for any government in the country.

"NPP has a record of defaults and setting bad records. In the history of Ghana, no government has defaulted in the payment of domestic bonds before except NPP," Dr. Forson emphasized.

Regarding key allocations in the 2025 budget, the Finance Minister disclosed that GHC28 billion has been earmarked for the energy sector as part of efforts to clear inherited debts and stabilize the sector.

"We allocated GHC28bn to the energy sector because of what we inherited. The energy sector is churning out a debt of $2.2bn every year," he revealed.

Story: Phalonzy