The Minister for Finance, Dr Cassiel Ato Forson, has firmly rejected claims by Hon. Gideon Boako that the government missed “at least 50 percent” of its fiscal targets, describing the statement as inaccurate, unsupported, and contradicted by every macro indicator available.
Taking the floor during the closing debate on the 2026 Budget, Dr Forson said the numbers paint a completely different picture — one of recovery, discipline, and restored confidence in Ghana’s economic management.
“It is a curious claim, because none of the macro data supports it,” he stated.
The Numbers That Refute the Claim
The Finance Minister listed five key indicators to illustrate Ghana’s performance trajectory in 2025:
• Growth hit 6.3% in the first half of 2025, far above the 4.0% target for the year.
• Inflation dropped sharply from 23.8% at the end of 2024 to 8% by October 2025—outperforming the targeted 11.9%.
• The primary balance moved from a deficit of 3% of GDP to a surplus of 1.6% by September 2025—almost triple the target.
• Public debt fell from 61.8% of GDP in 2024 to an estimated 45% by end-October 2025—the strongest correction in more than a decade.
• Gross international reserves increased from 4 months to 4.8 months of import cover, boosting currency stability and investor confidence.
“These are facts—verified by the markets, recognised by rating agencies, and acknowledged by the IMF and the World Bank,” Dr Forson emphasised.
“This is not the profile of a government missing half its targets. It is the profile of a government regaining credibility through discipline.”
Growth Projections Defended: “We Choose Evidence Over Wishful Thinking”
Responding to opposition members who described the 4.8% growth forecast for 2026 as “illogical”, Dr Forson insisted the projection was measured, prudent, and grounded in reality — not politics.
“We prefer realism to wishful forecasting,” he said. “Our projections are credible because they are built on evidence, not bravado.”
He further addressed claims by Hon. Dr Mohammed Amin Adam that the budget is “growthless” and “jobless”, describing the suggestion as detached from policy reality.
Inflation Is Falling for a Reason — And Policy Is Behind It
The minister argued that Ghana’s disinflation is neither accidental nor cosmetic — it is the outcome of targeted supply-side interventions, especially in food production.
Government, he outlined, is rolling out:
• Feed Ghana input expansion and vegetable value-chain support
• Over 10,000 hectares of new irrigation coverage
• More than 4,000 mechanisation units through Farmer Service Centres
These are backed by 1,000 km of agricultural enclave roads, GH¢200 million for buffer stock operations, warehousing support, aquaculture facilities and expanded market logistics to cut food transportation costs.
“This is what it means to let the data shape policy,” he stated.
A Budget That Creates Jobs — Not One Without Them
Contrary to opposition claims that the budget holds no employment promise, the minister highlighted that GH¢74 billion in government programmes is expected to generate approximately 800,000 jobs nationwide.
“The idea that a GH¢74 billion jobs engine is somehow ‘jobless’ is simply untenable,” he declared.
The Record, As He Says, Is Clear
With growth stabilising, inflation falling, debt receding, and reserves strengthening, Dr Forson said the numbers now tell a single compelling story — Ghana is rebuilding credibility through discipline, data, and deliberate policy choices.
“The facts disagree with the narrative,” he concluded. “And Ghana deserves a debate anchored in evidence — not assumption.”
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