Business News of Friday, 21 March 2025

Source: www.ghanaweb.com

Vice Chairman of Budget Committee blasts NDC over projected GDP growth

Vice Chair of Parliament's Budget Committee, Alexander Agyare play videoVice Chair of Parliament's Budget Committee, Alexander Agyare

The Member of Parliament for Kade Constituency, Alexander Agyare, has criticised the National Democratic Congress (NDC) government, accusing it of lacking plans for industrial growth.

In an interview on Thursday, March 20, 2025, the New Patriotic Party (NPP) MP highlighted a projected decline in Ghana’s Gross Domestic Product (GDP) growth under the NDC, from the 5.7% achieved during the NPP’s tenure to 4.0% in 2025.

Referring to portions of the 2025 budget statement recently presented to Parliament by the Minister of Finance, Agyare noted that the NDC’s expected output for 2025 represents a drastic decline from the 5.7% handed over by the NPP administration, which left power in January 2025 following the December 2024 elections.

“You made it clear that you were going to reset the economy, fix the economy, and give it a big push. That’s what Ghanaians expect the NDC government to do. But, my brother, if you go into the budget statement, you’ll clearly see that the NDC has nothing in terms of industrial growth. They have no plans,” he stated.

“We left them with 5.7%, yet their expected output in 2025 is 4%. That’s a drastic decline in the economy,” he added.

Contrasting the NDC’s projected GDP with the growth bequeathed to the new government by the NPP, Agyare warned of dire implications for the country, given the overall significance of GDP as an indicator of economic health.

He also questioned the NDC’s economic strategy, referencing President John Dramani Mahama’s description of the economy he inherited as a “crime scene,” despite being able to meet debt schedules since assuming power.

“The President himself described it as a crime scene, using so many names to label it, but they were still able to meet all their debt schedules. They managed to do so much with what was called a crime scene. I think if it was a crime scene, as has been thoroughly described, they couldn’t have done much, yet they still lamented,” he said.

The 2025 budget statement, which marks the first major economic policy by the John Mahama government, has received varied reactions from both sides of Ghana’s political divide.

While the NDC touts the budget as perfect for resetting Ghana’s economy from a broken state, the NPP accuses the NDC of failing to build on the economic foundation they left behind.



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