The Member of Parliament for Ofoase/Ayirebi, Kojo Oppong Nkrumah, has cautioned the National Democratic Congress (NDC) against celebrating what he described as the “temporary and fragile achievements” of the current government, noting that a closer examination reveals a struggling economy.
Speaking during his contribution to the debate on the 2026 budget, Mr. Oppong Nkrumah highlighted serious concerns regarding government revenue. He noted, “The government is falling short of its revenue targets.
This year alone, revenue has underperformed by approximately GHC 19 billion.” He further explained that the shortfall has forced the government to make tough decisions on spending, stating that expenditure has had to be reduced by GHC 28 billion to manage the gap.
The MP also addressed the recent appreciation of the Ghanaian Cedi against the US dollar. While many have seen the strengthening currency as a positive development, he cautioned that the situation may be misleading. “The apparent stability of the Cedi is largely the result of intervention by the Bank of Ghana, which has injected nearly US$ 8 billion into the economy since January to support the currency,” he said.
He warned that such measures, while temporarily effective, require careful management to prevent unintended consequences, advising that the government “must tread cautiously in navigating the complexities of our economic landscape.”
Mr. Oppong Nkrumah’s comments come amid growing scrutiny of the government’s fiscal policies, with critics pointing to underperformance in revenue mobilization and the necessity of borrowing or cutting expenditure to bridge gaps. His cautionary statements serve as a reminder that surface-level indicators, such as the Cedi’s appreciation, may not reflect the underlying economic realities.
