Deputy Ranking Member of the Finance Committee, Dr. Gideon Boako, has stated that the 2025 Budget presentation disproves claims that the previous government left the economy in a “sick state.”
Speaking on Joy FM’s Top Story on March 11, Dr. Boako argued that despite assertions by the National Democratic Congress (NDC) that the economy was in decline, it still recorded a 5.7% growth rate, a figure he described as unprecedented for a departing administration.
“Never in the history of this country has any government left with such figures. What actually happened today vindicates the fact that the previous administration did not leave the economy in a sick state. The Finance Minister was forced to acknowledge that the economy grew by 5.7%,” he stated.
Concerns Over National Debt Figures
Dr. Boako also raised concerns about the Finance Minister, Dr. Cassiel Ato Forson’s presentation of national debt figures, alleging that the Minister admitted some of the figures were yet to be audited.
“Did you hear the Finance Minister, after listing all these debts, admit that they are yet to be audited? How can a Finance Minister present figures to Parliament that are not verified and do not exist within the government system? This is scandalous and unheard of,” he argued.
Debt-to-GDP Ratio Omission
Additionally, Dr. Boako questioned why the Finance Minister failed to disclose the debt-to-GDP ratio, suggesting that doing so would have contradicted the government’s claims.
“When it came to the overall gross public debt, he avoided adding all components to the debt stock and instead referenced figures recorded by the Bank of Ghana and the IMF as of December 2024. That is why he smartly never mentioned the debt-to-GDP ratio—because it would have exposed the inconsistencies in his argument,” he explained.
Debt Inheritance in Governance
Dr. Boako acknowledged that the previous government left behind some level of debt but maintained that this was a normal occurrence in governance and did not signify an economic crisis.
His remarks add to the ongoing political debate over Ghana’s economic standing, as stakeholders continue to analyze the implications of the 2025 Budget and the financial policies of the current administration.
