The Minority in Parliament has launched a scathing attack on the 2026 Mid-Year Fiscal Policy Review, describing the statement presented by Finance Minister Dr Cassiel Ato Forson as uninspiring, lacking substance and failing to provide concrete solutions to Ghana’s economic challenges.
Responding immediately after the Finance Minister presented the review in Parliament on Thursday, Minority Leader Alexander
Afenyo-Markin argued that the statement relied heavily on rhetoric and broad claims of government achievements without providing adequate evidence or detailed explanations to support them.
According to the Effutu MP, Parliament and the Ghanaian public deserved greater transparency, particularly on government expenditure and payments highlighted in the review.
“This review is full of English with empty payments. The payments they say they have done, why didn’t they give us details?” he questioned.
Questions expenditure figures
Afenyo-Markin accused the government of failing to provide sufficient accountability regarding the utilisation of public funds.
He argued that a mid-year fiscal review should clearly explain how resources have been spent and provide verifiable details rather than general statements.
The Minority Leader also pointed to what he described as inconsistencies in government figures relating to road sector financing.
According to him, while a Deputy Roads Minister had earlier announced that GH¢1.6 billion had been released to the Roads Ministry, the Finance Minister indicated in the Mid-Year Review that only GH¢1.1 billion had been disbursed.
“His Deputy Minister told the nation that GH¢1.6 billion was released to the Roads Minister. Today, he says only GH¢1.1 billion,” Afenyo-Markin stated.
He maintained that such discrepancies undermine confidence in government reporting and raise questions about the accuracy of official fiscal data.
‘Policy outcomes matter’
The Minority Leader argued that the performance of a Finance Minister should be judged by the effectiveness of policies implemented rather than the volume of expenditure recorded.
“The true measure of a Finance Minister is not how much he spends,” he said.
He insisted that the Mid-Year Review failed to inspire confidence because it did not outline new interventions capable of addressing the economic hardships confronting ordinary Ghanaians.
Cocoa sector concerns
Afenyo-Markin also criticised what he described as government’s failure to announce any meaningful policy measures for the cocoa sector despite the challenges confronting farmers.
He noted that cocoa producers continue to struggle and said the Mid-Year Review offered no concrete solutions to reverse the situation.
“Throughout his review, there was no policy announcement for the cocoa sector. The four million cocoa farmers are suffering. This Finance Minister, since he took over as the supervising minister responsible for cocoa, we have seen suffering and wailing, and he comes here to lament,” he said.
The comments come amid growing discontent among cocoa farmers following the government’s recent reduction in the producer price of cocoa.
Gold for Reserves criticism
The Minority also renewed its criticism of the government’s handling of the Gold for Reserves Programme, claiming the administration ignored earlier warnings from the opposition.
According to Afenyo-Markin, the Minority had cautioned government when charges under the programme stood at 15 per cent, but those concerns were disregarded.
He said the International Monetary Fund (IMF) subsequently compelled government to reduce the charges to nine per cent.
The Minority Leader further noted that the Bank of Ghana had since announced its withdrawal from the programme.
“Three days ago, the Governor announced that he was no more going to participate in this Gold for Reserves. It’s too late today. You’ve already incurred losses of GH¢9.6 billion. That is what the IMF told you. And you come here saying prudent management of the economy. Really?” he questioned.
Claims of economic progress disputed
Beyond the fiscal numbers, Afenyo-Markin challenged government’s portrayal of the economy, arguing that the achievements outlined by the Finance Minister did not reflect the realities experienced by many Ghanaians.
He also criticised what he described as the prevailing political atmosphere, alleging that some individuals were being subjected to persecution while government projected an image of sound economic management.
“Mr Speaker, this review is uninspiring and there is no inspiration in it. What we are experiencing in this country is persecution. You are persecuting people and you are here telling us you are running an economy,” he said.
Summing up the Minority’s assessment, Afenyo-Markin dismissed the Mid-Year Fiscal Policy Review as lacking the substance required to address the country’s pressing economic challenges.
“Mr Speaker, this review is full of English with empty promises,” he concluded.
