The NPP Minority alleges the government has borrowed GH¢73 billion in two months, with projections of GH¢200 billion by year-end. They express concern over budget allocations and contrast this with previous borrowing under the Akufo-Addo administration. Dr. Adam claims the NDC government is manipulating fiscal data to support its claims regarding the economy’s management.
The Minority in Parliament, consisting of members from the New Patriotic Party (NPP), has raised allegations that the government has amassed GH¢73 billion in borrowing over a two-month period since January 7, 2025. Dr. Gideon Boako, the Member of Parliament for Tano North, revealed that the Finance Minister, Dr. Cassiel Ato Forson, is expected to borrow an additional GH¢6 billion on March 14, bringing the total to GH¢79 billion.
Dr. Boako cautioned that if the current borrowing trend continues, the government could potentially incur GH¢200 billion in debt by year-end. He expressed disbelief at such rapid borrowing, especially when the prior Akufo-Addo administration borrowed less than GH¢15 billion upon taking office in 2017.
The MP also questioned the allocation of a GH¢2.7 billion budget for the Office of the Government Machinery (OGM), compared to the GH¢326 million allocated by the previous NPP government in 2024. Additionally, he noted the high allocation of GH¢78.8 million for the Government Communications Office, surpassing the budgets of four ministries from the previous administration, and a GH¢50 million designation for the Research Department of the OGM.
Dr. Mohammed Amin Adam, former Minister of Finance, criticized the ruling National Democratic Congress (NDC) Government for allegedly manipulating fiscal data to justify claims of inheriting a poorly managed economy from the NPP. He asserted that this narrative is a carefully orchestrated strategy, supported by statements from the President during the State of the Nation and reiterated at the National Economic Dialogue, with the 2025 Budget serving as evidence for these assertions.
In summary, the NPP Minority in Parliament has vocalized strong concerns regarding the government’s borrowing practices, claiming a staggering GH¢73 billion has been borrowed since January. Highlighting disparities in budget allocations and past borrowing behaviors, the Minority urges scrutiny of the current administration’s fiscal discipline. Dr. Adam’s comments underscore a narrative of strategic fiscal manipulation, indicating a fundamental clash between the two political parties regarding economic management.
Original Source: www.ghanabusinessnews.com
