2025 budget has betrayed Mahama govt’s priorities – Oppong Nkrumah

Ofoase Ayirebi lawmaker Kojo Oppong Nkrumah has said that the 2025 budget statement betrays the priorities of the Mahama administration.

He explained that the government has allocated a paltry 51 million Cedis seed capital for the creation of the Women’s Development Bank but has allocated 71 million Cedis to research at the presidency.

This, in his view, betrays the priorities of the government.

Contributing to a debate on the budget statement in Parliament on Tuesday, March 18, he said “Your budget, the one you have brought betrays your priorities, like they say, don’t tell me what your priorities are, show me your budget. and I will see what you value.

“This budget that you have brought is the budget in which you have told us that you value Ghanaian women so much that you are going to set up a bank for them. , the Woemns Development Bank. You have put 51 million Cedis allocation in this budget for the Woemns Development Bank. and then you have put 70 million Cedis for Research at Jubilee House. Do you see your priorities? The budget is beginning to betray your priorities.”
Mr Oppong Nkrumah further told the Mahama administration to find coherence between the 2025 budget statement and the manifesto promises of the National Democratic Congress (NDC).

He observed that the 2025 budget statement responded to only 25 out of the 273 economic promises made by the NDC during the campaign season last year.

If this trend continues, he said, by the time the NDC is done with their four-year tenure, they would have done less than 20 per cent of the 273 economic promises they made.



Contributing to the debate on the 2025 budget in parliament on Tuesday, March 18, the Former Minister of Works and Housing said “You made 273 economic promises in your manifesto, each year you should be about 63 of them. Do you know how many of your economic promises you have responded to in this first economic policy? I am not sure you have read your budget, you haven’t counted.

“You have only responded to 25 of your economic promises, that is just about 36 per cent. If you continue at this rate by the time your tenure is over you will be doing less than 20 per cent. even when you roll out programmes as a government, not all of them succeed. we have been in government before, the NPP in We first year rolled out Free SHS, 1D,1F, 1V,1D, even those ones we started early, look at the challenges we face.d we are drawing your attention that you need to find more coherence between your economic policy and your own manifesto else by the time your tenure is done you would have disappointed yourself.”
For his part, Nhyiaseo lawmaker Dr Stephen Amoah has said that the NDC Congress (NDC) lacks identity.

As a social democratic party, he said the NDC should have been known for introducing pro-poor policies yet the party cannot boast of even one of such policies.

He dared the NDC to name one pro-poor policy they have introduced.

“Name all the pro-poor policies, in kind and cash, any pro-poor policy of national tenacity and international reputation, you can’t dip your hand in it.

“Even in this house when we were passing the NHIL you ran away only for you to come and say you started it,” he said.

Also contributing to the debate, Member of Parliament for Karaga and former Minister of Finance Dr Mohammed Amin Adam said “I am wondering how the Minister is going to implement this budget when you have a funding shortfall of goods and services of 15 billion Cedis.”
Meanwhile, Professional services firm Deloitte has said that they are awaiting specific details on the 24-Hour economy policy idea by the Mahama administration.
The Minister for Finance, Dr Cassiel Ato Forson, had stated that government’s proposed 24-hour economy policy will be formally presented to Parliament for approval.

He announced this on Tuesday, 11th March, during the presentation of the 2025 Budget Statement and economic policy to Parliament.




The policy, a key initiative of the Mahama-led National Democratic Congress (NDC) government, aims to boost economic productivity by encouraging businesses to operate around the clock.

Dr Forson noted that the 24-hour economy has the potential to create jobs and foster sustainable economic growth.

“The Mahama-led NDC government is committed to the pursuit of the 24-hour economy policy,” he stated.

But in its analysis of the 2024 Budget and Economic Statement, Deloitte said “We await specific details on the 24-Hour economy, using government procurement to spur local growth and the ‘Big Push’ strategic infrastructural development programme, which aims to allocate US$10 billion to fund infrastructural development. Last is the all-important matter of Ghana’s current debt status and its impact on our overall development.

“Ghana already has the necessary legal framework for which we look forward to seeing tightening of fiscal responsibility rules to ensure debt sustainability. The current debt levels within the energy sector, especially in electricity generation and distribution, need to be resolved with the proposed comprehensive and concerted push.

“At Deloitte, we are guided by our purpose of making an impact that matters, and in these times, we deliver on this purpose ensuring that our clients, the public and society are abreast of the economic happenings and their effects.

“This publication therefore highlights the key aspects of the 2025 Budget Statement and provides an analysis of the outlook of Ghana’s current economic standing, where we are headed in resetting the economy, and the key policies scheduled for implementation in the 2025 financial year.”

Deloitte further indicated that they support the government’s resolve to cut spending.

Deloitte noted that the resolve to cut expenditure could facilitate the restoration of investor confidence and overall macroeconomic stability.

“We support the government’s resolve to be measured in its spending as this can facilitate the restoration of investor confidence and overall macroeconomic stability”, it said in its review of the 2024 Budget.




Professional services firm further indicated that the decline in real GDP growth can be attributed to the expected government’s fiscal tightening stance and aggressive expenditure-cutting measures.

“These measures are expected to limit the government’s ability to roll out some of its key policies and programmes, which, in the short term, is likely to slow down economic growth, hence the projected decline in real GDP growth in 2025”, it said in its analysis of the 2024 Budget and Economic Statement.
READ ALSO: Cutting expenditure by GHS10 billion was very huge – Economist tells Finance Minister

Going forward, Deloitte said it is important for the government to reverse the trend of high levels of budget deficits (which averaged about 7.5% over the period 2021-2024) and primary balance deficits as these will increase budget arrears and debt burden amidst the recently constrained fiscal environment resulting from unsustainable debt levels.

It also pointed out that the projected deficit of 3.1% of GDP for 2025 sends a message of prudence on the part of the Government as it navigates through the International Monetary Fund (IMF) Economic Credit Facility programme.
“A key highlight of the 2025 Budget Statement is the abolishment of a number of taxes and promised reform of the Value Added Tax (VAT) regime. The expected VAT reform would be much welcomed by the business community, and we look forward for this to be initiated and completed in this calendar year. The business community is also looking forward to “realignment” of import duties, especially on production inputs, to enable it grow and provide the necessary jobs in the economy.

Source:3news.com