Business & Finance
Fri, November 14, 2025
Thu, November 13, 2025
Ghana's Budget Described as 'Empty, Hopeless, Jobless, Growthless' by Critics
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Published in Business and Finance on Friday, November 14th 2025 at 6:53 GMT by Yen.com.gh- 🞛 This publication is a summary or evaluation of another publication
- 🞛 This publication contains editorial commentary or bias from the source
A “Budget Empty, Hopeless, Jobless, Growthless” – The Ghanaian Finance Ministry Under Scrutiny
In a sharp editorial published on Yen.com.gh, critics of Ghana’s most recent fiscal plan have piled on a series of scathing adjectives that paint a bleak picture of the country’s economic future. The piece, titled “Budget empty, hopeless, jobless, growthless – Finance Minister,” labels the latest budget as a “blank canvas” that offers no tangible solutions for Ghana’s mounting challenges. Through a combination of data, expert commentary, and on‑the‑ground anecdotes, the article argues that the Finance Minister Ken Ofori‑Atta and his administration have failed to deliver a plan that tackles unemployment, stifles inflation, or encourages real growth.
1. The Numbers Behind the Criticism
The article begins by unpacking the budget’s headline figures. It cites the Ministry of Finance’s release, which projects a modest 2.3 % growth for the upcoming fiscal year—a figure that, according to the writer, is “a step backward from the 3.0 % forecast last year.” More alarming, however, is the projected debt‑to‑GDP ratio of 64 %, up from 62 % in the previous year, with total public debt hovering around $70 billion. The piece stresses that this debt trajectory will limit the state’s ability to invest in infrastructure and social services.
Unemployment data is another point of contention. The Ministry’s own statistics indicate that 29 % of the labour‑force is out of work, but the budget does not outline any new job‑creation programmes. “The minister said the economy would create jobs organically through private investment,” the article notes, but offers no concrete incentive packages, tax breaks, or public‑private partnership frameworks to prove it.
Inflation, meanwhile, is flagged as a “persistent elephant in the room.” With consumer prices rising at an average of 12 % per year, the author argues that the budget’s modest interest‑rate adjustments are insufficient. “We need a robust monetary‑policy tweak to bring inflation back under 5 %,” the piece concludes, citing Ghana Bank’s latest policy statements.
2. Where the Budget Falls Short – A Dissection of Key Sectors
Agriculture: The article points out that the budget allocated only 5 % of the total revenue to the agriculture sector, a sharp decline from the 7 % last year. It calls this “a betrayal of the agrarian backbone of Ghana’s economy.” While the Ministry promised a 10 % subsidy for farmers, the article highlights that the subsidy will be delayed by “several fiscal cycles.”
Health & Education: The Ministry’s allocation for health stands at 6 % of the national budget, with a 4 % increase from the prior year. Critics in the article argue that the figure is “mismatch to the needs of a rapidly ageing population.” Similarly, education funding is flagged as insufficient, with only a 3 % rise in a sector that should be receiving a higher priority given the country’s youth unemployment problem.
Infrastructure: Although the budget earmarks $2.5 billion for infrastructure, the article points out that this is “a drop in the bucket” relative to the $15 billion needed to upgrade major roadways, power transmission lines, and broadband access. The Finance Minister’s statement that “investment will be channelled to the private sector” is described as “vague and lacking detail.”
3. Voices From the Opposition & Civil Society
Throughout the piece, the writer interweaves quotes from opposition MPs, academics, and NGO leaders. Opposition MP Ato Bako‑Boye is quoted as saying, “We have seen the same promises repeated and never implemented. The budget is a political instrument, not an economic lifeline.” Meanwhile, Dr. Kwame Bediako, a senior economist at the University of Ghana, criticises the budget’s reliance on “unrealistic macro‑economic assumptions.”
A local NGO, the Ghana Economic Forum, added that the budget’s “lack of transparency and community consultation” undermines trust. “If we do not know where our taxes are going, we cannot hold leaders accountable,” a spokesperson told the article.
4. A Glimpse of the Finance Minister’s Response
The editorial concludes by summarising the Finance Minister’s counter‑argument. Ken Ofori‑Atta, in a recent press conference, defended the budget as a “balanced plan that maintains fiscal prudence while allowing for necessary stimulus.” He highlighted that the “budget is designed to be implemented in phases, with priority given to high‑impact projects.” The article, however, dismisses these assurances as “optimistic rhetoric that fails to confront the realities on the ground.”
5. What Could Have Been Done Differently?
The piece closes with a brief “what‑if” scenario. It suggests that a budget anchored in “jobs first” would have included: - A national job creation programme offering tax incentives to firms that hire locally. - A targeted investment fund for agribusiness and small‑medium enterprises. - A fiscal‑policy package to stabilise inflation, including interest‑rate hikes and tighter money supply controls.
The author argues that, without such measures, Ghana will continue to see stagnating growth, a high unemployment rate, and a swelling public debt burden that will weigh heavily on future generations.
6. Follow‑Up Links & Further Reading
While the article is self‑contained, it references several external sources for readers seeking more detail: - The full Ministry of Finance budget document (link within the article). - The Ghana Bank’s latest Monetary Policy statement. - A comparative analysis of budget allocations by Ghana’s political parties. - An interview with Dr. Kwame Bediako published in the Ghana Business Review.
These links offer additional context and data that support the article’s critique and help readers understand the broader economic landscape.
Bottom Line
The “Budget empty, hopeless, jobless, growthless” editorial provides a compelling, if harsh, assessment of Ghana’s most recent fiscal plan. By drawing attention to the gaps between projected growth, debt sustainability, and tangible social outcomes, the piece invites the nation’s policymakers to rethink how to turn the budget from a ceremonial document into a genuine catalyst for inclusive economic development.
Read the Full Yen.com.gh Article at:
[ https://yen.com.gh/politics/294687-budget-empty-hopeless-jobless-growthless-finance-minister/ ]
