‘Stability on paper, hardship in our pockets’ – Minority caucus attacks 2027 Budget

The Minority in Parliament has harshly criticized the 2027 Budget, arguing that the government's claims of economic stability have not resulted in affordable food, job creation, or relief for businesses. Speaking to journalists after Finance Minister Dr Cassiel Ato Forson unveiled the budget to Parliament, Minority Leader Alexander Afenyo-Markin accused the government of offering empty slogans instead of practical solutions.

He lamented that food prices remained high across markets in the country, including Techiman, Tamale, Kumasi Asafo, Winneba Central, and Makola. Afenyo-Markin highlighted the lack of adequate support for farmers and the continued exorbitant cost of locally produced staple foods. He questioned the government's support for cocoa farmers, citing a fall in the farmgate price despite previous promises.

The Minority Leader rejected the Finance Minister's appeal for patience, arguing that Ghanaians expected employment and improvements in living standards after two years. Afenyo-Markin urged the government to explain how its New Economy Programme connects with the 24-hour economy policy. He raised concerns about the proposed 2027-2030 development timetable and demanded clearer information on financing and implementation.

The Minority Leader welcomed the government's stated capability to meet obligations under the Domestic Debt Exchange Programme but questioned why funding was not available for public sector workers and recruitment. He demanded specific projects to enable scrutiny and highlighted the government's failure to disclose how much of the US$10 billion allocated for the New Economy Programme would be available in 2027.

Afenyo-Markin also criticized the lack of progress on the promised women's bank, which had appeared in previous budgets but was absent from the latest presentation. He argued that electricity costs and limited incentives would hinder private investment growth. The Minority Leader emphasized that without the private sector, the economy couldn't flourish.

He vowed that the caucus would further scrutinize the budget and present a comprehensive assessment after the budget workshop.