The Minority New Patriotic Party (NPP) in Parliament has strongly criticised the governing National Democratic Congress (NDC) for engaging in what it said was manipulation of statistical data in the 2025 budget statement and economic policy of government.
Presenting the budget statement to Parliament on behalf of President John Dramani Mahama last Tuesday, Minister for Finance Dr. Cassiel Ato Forson used what he claimed was unreleased claims of GH¢49.2 billion to calculate the fiscal and primary balance deficits incurred by the previous New Patriotic Party (NPP) administration.
However, giving a comprehensive response at a news conference on behalf of the Minority caucus in Parliament yesterday, Dr Mohammed Amin Adam, the immediate past Minister for Finance and current Ranking Member of Parliament’s Finance Committee, accused the Finance Minister of churning out unverified expenditure figures in the 2025.
This move, according to him, was deliberately intended to misrepresent the financial management of the erstwhile NPP administration.
Unverified data
Dr. Amin Adam asserted that the additional expenditure claims were inserted into the budget without proper verification, making the fiscal data unreliable questioning the credibility of the figures, arguing that the government had ignored established procedures for tracking arrears accumulation under the IMF-supported economic programme.
“We have been vindicated. Our intelligence has been confirmed, and the Finance Minister has done the hatched job.
“The government has churned out a fiscal deficit of 7.6% of GDP and a primary deficit of 3.6% of GDP, but these numbers are manufactured.
“The economy they are describing does not reflect the strong revenue performance and expenditure management we achieved before leaving office,” he reiterated.
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 based on the so-called unreleased claims.
“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.
“Before the start of the IMF programme in 2023, we agreed with the Fund to monitor fiscal balances on a commitment basis. This included tracking outstanding expenditure claims that had gone through the GIFMIS system. At the end of 2023, we had a verified stock of arrears. Now, suddenly, they claim GH¢49.2 billion in new expenditure without an audit. This is a clear attempt to mislead the Ghanaian people,” he added.
Dr Amin Adam further accused the government of manufacturing the 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 decried.
Dr. Amin Adam who is also the Member of Parliament (MP) for Karaga 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.
Eroding investor confidence
Also addressing the news conference, MP for Atiwa East and Chairperson of the Public Accounts Committee of Parliament, Mrs. Abena Osei Asare, insisted that the government’s approach to fiscal reporting could harm investor confidence.
She warned that the false fiscal deficit figures could negatively impact Ghana’s ability to secure loans and maintain favourable credit ratings.
“The Minister himself admitted in paragraph 135 of his speech that he intends to audit these claims. So why include them in the budget now? The implications of this are severe. International markets have already reacted negatively, and our sovereign bond spreads are widening. The government is sacrificing Ghana’s economic stability for political gain,” she stated.
MP for Ofoase-Ayirebi and Ranking Member on the Economy and Development Committee of Parliament, Mr. Kojo Oppong Nkrumah, echoed similar sentiments, arguing that the misrepresentation of Ghana’s fiscal health could undermine the country’s debt sustainability.
“If you remove the fabricated GHS49.2 billion, the actual fiscal deficit would be 3.4%, not 7.6%. The primary balance would be a surplus of 0.6%, not a deficit of 3.1%. This budget is not credible.
They called on the IMF to intervene and ensure the integrity of Ghana’s fiscal data, warning that any acceptance of the disputed figures could derail the country’s economic progress.
On his part, the MP for Tano North, Dr. Gideon Boako, also criticized the government’s economic projections, stating that the budget fails to inspire confidence.
“How can a government that claims to be resetting the economy project only 4.4% growth in 2025 after we achieved 5.7% growth in 2024? This budget lacks ambition, and Ghanaians should be worried,” he remarked.
The Minority’s strong opposition sets the stage for heated debates in Parliament as the government seeks approval for the 2025 budget.
The Finance Minister, however, has defended the figures, insisting that they reflect the true state of the economy.
With the IMF’s next programme review scheduled for April 2025, all eyes will be on how the government justifies its fiscal numbers and whether international financial institutions will uphold the Minority’s call for a forensic audit.
