KEY POINTS
- 2026 budget lacks job creation and economic growth.
- Hidden fiscal risks threaten long-term stability.
- Opposition calls for genuine economic transformation.
Ghana’s Minority in Parliament has criticised the 2026 Ghana budget, calling it “growthless, jobless, and minimalist” for failing to address urgent economic challenges.
Speaking on Friday, November 14, former Finance Minister and MP Amin Adam said the budget offers only “cosmetic rhetoric” from what he described as a “crawling government.” He argued that the budget lacks substance and does not strengthen revenue realism, expand productive investment, or enable private-sector-led job creation.
Adam said that investment levels are still low, revenue estimates are too high, and financing costs are high. He said the government has not adequately addressed key fiscal risks, including unattractive short-term debt, unquantified state-owned enterprise liabilities, and climate and disaster vulnerabilities. According to him, shrinking expenditure to project fiscal prudence could backfire, mechanically raising the debt-to-GDP ratio despite a narrow cash deficit.
Hidden risks and stalled economic transformation
The Minority also criticised the government’s broader economic management, saying ministries struggle to function due to a lack of basic resources while sophisticated investors avoid government auctions.
Adam said that what we need is real fiscal restraint and economic leadership, not opportunistic austerity and false promises. He said the 2026 Ghana budget failed to deliver real economic change, leaving citizens trapped in a state of progress that only appeared to advance.
Adam warned that stability could falter if the government fails to address fiscal and macroeconomic threats. He called for transparent flagship programmes, credible revenue mobilisation, and policies that deliver measurable results. “What we need is economic transformation, which Ghanaians were promised. But what we see now is economic stagnation masquerading as progress,” he said. The Minority urged the government to prioritise growth, job creation, and long-term fiscal sustainability.
