On March 11, 2025, Ghana’s Finance Minister, Dr. Cassiel Ato Forson, presented the 2025 Economic Budget to Parliament.
In response, Minority Leader Alexander Afenyo-Markin delivered a comprehensive critique, labeling the budget as deceptive replete with unfulfilled promises.
A central theme in Afenyo-Markin’s critique was about the 24-hour economy policy, a significant campaign promise by the National Democratic Congress (NDC).
This campaign promise was anticipated to transform Ghana’s economic landscape by promoting continuous economic activities and creating employment opportunities, especially for the youth. He said;
“Mr. Speaker, we have witnessed what we can best describe as an ‘Azaa budget.’ Their much-talked-about 24-hour economy—where is it? The President came here and said it was already in motion. Now, the Finance Minister presents the budget, and there is no mention of it.”
Minority Leader Alexander Afenyo-Markin
The Minority Leader expressed disappointment over its exclusion from the budget, questioning the government’s commitment to its implementation.
“Mr. Speaker, the youth of this country have been waiting for this 24-hour economy policy, yet the Minister tells us it will be brought later. Eii, Ato! So, all the jobs they promised were merely an ‘Azaa’ promise?”
Minority Leader Alexander Afenyo-Markin
Afenyo-Markin scrutinized the economic projections presented in the budget, particularly the Gross Domestic Product (GDP) growth rate.
“It is very clear, Mr. Speaker, under the economy that they complain about, the growth was 5.7%, and under the reset economy, the growth is rather going down; you are projecting a 4 point something growth, that is what you are doing.”
Minority Leader Alexander Afenyo-Markin
This statement underscores apprehensions regarding the effectiveness of the government’s economic policies and their potential impact on national development.
Fiscal Responsibility and Budgetary Allocations
The Minority Leader also addressed issues related to fiscal responsibility and the allocation of funds within the budget.
“Mr. Speaker, while we acknowledge the need for development, it is imperative that our expenditures reflect the pressing needs of our economy. Allocating substantial funds to projects without clear commencement certificates or proper approvals raises concerns about fiscal discipline.”
Minority Leader Alexander Afenyo-Markin
This critique points to the need for transparency and accountability in government spending to ensure that resources are utilized effectively for the nation’s benefit.
Afenyo-Markin raised concerns about ongoing infrastructure projects, particularly those initiated without proper approvals or adherence to regulatory requirements.
“Mr. Speaker, we have observed that certain projects, such as the new roundabout construction, are being executed without the requisite commencement certificates and PPA approvals. This not only violates established procedures but also undermines the principles of transparency and accountability.”
Minority Leader Alexander Afenyo-Markin
He emphasized the importance of enforcing sanctions against officials who authorize such projects without following due process, advocating for adherence to legal and regulatory frameworks to promote good governance.
In light of the issues raised, Afenyo-Markin called for an immediate parliamentary debate on the budget. He said;
‘Mr. Speaker, let us start the comment on this budget statement here and now. Because this ‘Azaa’ budget, we cannot allow it to get onto the shelves for Ghanaians to think that there is any hope.’’
Minority Leader Alexander Afenyo-Markin
This call underscores the Minority’s commitment to holding the government accountable and ensuring that the budget aligns with the country’s developmental goals.
Alexander Afenyo-Markin’s response to the 2025 Economic Budget reflects deep-seated concerns about the government’s policy direction and fiscal management.
By labeling the budget an “Azaa budget,” he highlighted perceived discrepancies between the government’s promises and its actual policy implementations.
His critique serves as a call for greater transparency, accountability, and adherence to due process in governance to foster economic growth and meet the aspirations of the Ghanaian populace.
READ ALSO; Ghana Needs Economic Shock Absorbers, Not IMF Interventions- Prof. Gatsi
