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• goldcoastnewsline@gmail.com
• March 13, 2025
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• 2 minutes Read

Ato Forson accused of using unaudited figures in primary balance computation

The former Minister of Finance and current Ranking Member of Parliament’s Finance Committee, Dr Mohammed Amin Adam, has accused Finance Minister Dr Cassiel Ato Forson of relying on unaudited figures to compute the country’s primary balance.

According to Dr Amin Adam, the figures presented in the 2025 Budget lacked credibility and should not be taken at face value.

Speaking at a press conference on Thursday, March 13, on behalf of the Minority Caucus, Dr Amin Adam questioned the accuracy of the fiscal data presented by the Finance Minister.

He argued that without proper auditing, the numbers used in determining Ghana’s primary balance could be misleading.

“It is unacceptable for the Finance Minister to use figures that have not been audited to compute the country’s primary balance.

This raises serious concerns about transparency and accountability in public financial management,” he stated. Dr Amin Adam further contended that such practices undermine the credibility of the government’s economic reports and could distort Ghana’s true fiscal position.

He urged the Finance Ministry to uphold standard financial reporting principles by ensuring that only audited data is used in national budget statements.

“Ghanaians deserve accurate and verifiable figures, not numbers that have been hastily put together to create a favourable impression,” he added.

The former Finance Minister also warned that the reliance on unverified data could have long-term consequences on Ghana’s economic planning and credibility in the eyes of investors and development partners.

He called on Parliament to scrutinise the budget figures closely to ensure that they reflect the actual state of the economy.

• goldcoastnewsline@gmail.com
• March 13, 2025
• 0 Comments
• 2 minutes Read

Dr. Amin Adam: Finance Minister falsely inflated expenditure by GHC49.2bn

Dr Mohammed Amin Adam, former Minister for Finance and current Ranking Member of Parliament’s Finance Committee, has accused the Finance Minister of inflating expenditure figures in the 2025 Budget Statement by GHC49.2 billion.

According to Dr Adam, this move was deliberately intended to misrepresent the financial management of the previous New Patriotic Party (NPP) administration.

Speaking at a press conference held by the Minority Caucus on Thursday, March 13, he challenged the credibility of the figures presented by Finance Minister Dr Cassiel Ato Forson.

He argued that despite strong revenue performance and prudent expenditure management under the NPP government, the budget data suggested an exaggerated fiscal deficit of 7.6% of GDP and a primary deficit of 3.6% of GDP.

“An economy with such strong revenue performance and expenditure management as we have seen from the data in the budget cannot produce the kind of elevated fiscal outturns the Minister announced,” he stated.

Dr Adam further accused the government of manufacturing false claims to damage the reputation of the previous administration.

“They have erroneously churned out wrong data in a bid to tarnish the image of the NPP administration by including GH¢49.2 billion in expenditure claims without any basis,” he alleged.

He stressed that such distortions put the credibility of the country’s fiscal data into question. The former Finance Minister called on the government to provide clear justifications for the expenditure claims and urged Ghanaians to scrutinise the figures presented.

He warned that any attempt to manipulate data for political gain would have long-term consequences on investor confidence and Ghana’s economic outlook.

• goldcoastnewsline@gmail.com
• March 13, 2025
• 0 Comments
• 2 minutes Read

Cooking figures will make investors punish you – Dr. Amin Adam warns Finance Ministe

the immediate past Finance Minister and Ranking Member of Parliament’s Finance Committee, Dr Mohammed Amin Adam, has cautioned his successor against manipulating economic figures, warning that such actions could erode investor confidence in Ghana.

Speaking at a press conference for the Minority Caucus on Thursday, March 13, Dr Amin Adam criticised the Finance Minister for allegedly misrepresenting key economic data.

He argued that presenting misleading statistics to create a negative impression of the country’s financial situation would have serious consequences.

“So, you see, if you cook figures to create a narrative to run your country down, international investors will show you where power lies,” Dr Amin Adam remarked.

He emphasised that Ghana’s economic credibility is crucial in maintaining investor trust and attracting foreign capital.

The former minister further stated that inaccurate fiscal reporting could lead to higher borrowing costs and reduced investor interest in Ghana’s financial markets.

He urged the government to prioritise transparency and accuracy in economic data presentation to safeguard the nation’s reputation.

Dr Amin Adam concluded by calling on the Finance Minister to correct any discrepancies in the 2025 Budget and ensure that Ghana presents a true reflection of its economic position.

“If we do not uphold credibility in our financial reporting, we risk making Ghana unattractive to the very investors we need,” he warned.

• goldcoastnewsline@gmail.com
• March 13, 2025
• 0 Comments
• 2 minutes Read

NPP government handed a strong and healthy economy to NDC – Minority

Former Finance Minister and Ranking Member of Parliament’s Finance Committee, Dr Mohammed Amin Adam, has insisted that the New Patriotic Party (NPP) administration left behind a robust and stable economy before handing over to the National Democratic Congress (NDC) government.

He maintained that key economic indicators prove the economy was in good shape despite attempts by the new administration to suggest otherwise.

Speaking at a press conference for the Minority Caucus on Thursday, March 13, Dr Amin Adam accused the Finance Minister, Dr Cassiel Ato Forson, of manipulating fiscal data to paint a negative picture of the economy.

“Ladies and gentlemen, as you know, the manipulation of the fiscal data notwithstanding, the strong health of the economy the NPP handed to the new NDC government continues to be vindicated by other economic indicators,” he stated.

He cited Ghana’s Debt-to-GDP ratio, which stood at 61.8% by the end of 2024, as a key sign of economic strength.

According to him, this achievement was not accidental but rather the result of “skilled negotiations and the implementation of a good debt strategy” by the previous government. He criticised Dr Forson for failing to acknowledge this accomplishment in his budget speech.

“The Hon. Minister could not even acknowledge this important development by the imminent absence of this ratio in his budget speech. Sad!” Dr Amin Adam remarked.

He argued that the NPP’s economic management had positioned Ghana for long-term stability, and any claims of mismanagement were unfounded.

Concluding his remarks, Dr Amin Adam asserted that history would ultimately recognise the achievements of the Akufo-Addo administration.

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• goldcoastnewsline@gmail.com
• March 13, 2025
• 0 Comments
• 2 minutes Read

Duane Stephenson, Kenyatta Hills thrills audience at 2025 Kuchoko Roots Festival

The 2025 edition of the Kuchoko Roots Festival, held at La Pleasure Beach on Saturday, March 8, was a night filled with electrifying performances and thrilling reggae music. Attendees were treated to an unforgettable experience, with both local and international acts taking the stage, including reggae legends Duane Stephenson and Kenyatta Hills, the son of the iconic Jamaican band, Culture.

Duane Stephenson, famed for his timeless tracks like “August Town,” “Cottage in Negril,” and “Ghetto Pain,” delivered an outstanding performance that had the crowd singing along to every note. The highlight of the night came when he performed “August Town,” with the audience singing in unison, creating an incredible atmosphere.

Reflecting on the experience, Duane expressed his gratitude, saying, “I have been touring around the world, but I don’t remember the last time I played with a full horn section. Kuchoko gave me that. Thanks so much. I will come again.”

The energy remained high as Kenyatta Hills took to the stage at 4:00 AM, performing classic reggae hits from his late father’s iconic album, including “Addis Ababa,” “One Stone,”  “Behold,” and “Jah Rastafari.” His powerful tribute to Culture resonated deeply with the audience, creating an emotional and memorable connection with the crowd.

The festival also featured a wide array of performances by talented artists such as JahWi, Osagyefo, Aklerh, Renner, Kwame Bediako, and The Mighty Orthodox Band. The event also saw performances from Burkinabé acts Ras Simposh, ZMo, and Ima Hado, who brought their unique styles to the stage.

Organized by Blakk Rasta, the Kuchoko Roots Festival continues to solidify its reputation as one of the premier reggae festivals in the region, bringing together music lovers from all walks of life for a celebration of reggae culture and community.

• goldcoastnewsline@gmail.com
• March 11, 2025
• 0 Comments
• 1 minute Read

Government to formalise export of Ghanaian labour

Dr. Cassiel Ato Forson, the Minister of Finance, announced Tuesday that beginning this year, the Government would formalise the export of Ghanaian labour to other countries.

He explained that this move would ensure a structured and beneficial system for Ghanaian workers seeking employment abroad, creating safer, legal pathways for them to work in foreign countries while protecting their rights and welfare.

The Finance Minister made this known when he presented the 2025 Budget Statement and Economic Policy to Parliament. The budget was on the theme “Resetting the economy for the Ghana we want.”

The minister said the formalisation would also reduce illegal migration, prevent worker exploitation, maximise the economic benefits of remittances, and boost foreign exchange earnings.

Commenting on sectoral performance, he stated that sector ministers would present a detailed performance and outlook for their sectors, along with specific policy interventions to address challenges within various Ministries, Departments, and Agencies.

“This is a departure from the norm where Ministers for Finance present detailed sectoral performance as part of the budget speech,” he said.

• goldcoastnewsline@gmail.com
• March 11, 2025
• 0 Comments
• 2 minutes Read

Minority caucus labels gov’t job creation promises as “Sakawa Jobs”

• goldcoastnewsline@gmail.com
• March 11, 2025
• 0 Comments
• 2 minutes Read

Minority Caucus describes 2025 Budget as “Nnaadaa”

The Minority in Parliament has described the Mahama government’s maiden Budget Statement and Economic Policy as “Nnaadaa Budget” that fails to address the worsening cost of living crisis in the country.

Addressing a press conference after the Budget presentation yesterday, the former Minister of Finance, Mohammed Amin Adam, said the budget ignored the pressing economic hardships Ghanaians were confronted with, such as the rising food and fuel prices, high utility costs and inflation.

He indicated that the Ghanaian people voted for the NDC due to the rising cost of living. He therefore wondered how the government could be so insensitive as to fail to even comment on it, let alone initiate any measures to address the situation.

“The budget did not address cost of living issues. Transport fares continue to increase. There was no mention of stabilising petroleum prices. It did not address energy bills, electricity bills, or water bills. Looking at all the indicators, these bills will continue to increase. We thought that, having campaigned on the cost of living crisis and come to power with the support of the Ghanaian people, the least the government could do was present a budget that would address the cost of living crisis in terms of transport fares, petroleum prices, and energy bills,” he stated.

Dr Adam also criticised the Finance Minister for trying to deceive the masses regarding the country’s real economic status, stating that the Minister preferred instead to lament with his own ‘cooked’ figures while hesitating in announcing the country’s current economic indicators.

Doing a comparative analysis of the economy the erstwhile NPP government inherited in 2017 and the economy left for the new government, Dr Adam stated that real GDP growth for the last quarter of 2024 was 5.7%, as released by the Ghana Statistical Service and confirmed by the Finance Minister, against a growth rate of 3.4% in 2016 and a projected growth rate of 4% in 2025.

• goldcoastnewsline@gmail.com
• March 11, 2025
• 0 Comments
• 1 minute Read

Lottery tax was never implemented – Sammi Awuku

Former Director-General of the National Lottery Authority (NLA), Sammi Awuku, has criticised the government’s claim that it has abolished the 10% tax on lottery winnings, arguing that the tax was never implemented in the first place.

In a Facebook post following the 2025 Budget presentation, Mr Awuku pointed out that lottery and betting are distinct sectors, regulated by different bodies—the NLA under the Ministry of Finance and betting under the Gaming Commission, which falls under the Ministry of the Interior.

He expressed concern over what he described as a misleading narrative in the budget statement, questioning how a tax could be abolished when it was never enforced.

“Let’s be honest: how do you abolish a tax that was never implemented?” he wrote.

Former Finance Minister Mohammed Amin Adam was the first to bring this up after the budget reading.

He told pressmen that “Betting tax that they said they have abolished, we never collected Betting Tax.”

• goldcoastnewsline@gmail.com
• March 11, 2025
• 0 Comments
• 1 minute Read

Afenyo-Markin: 2025 Budget “uninspiring and lacking vision”