
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.