Audio By Carbonatix
The New Patriotic Party (NPP) says government’s reported fiscal surplus for 2025 was achieved largely through cuts in expenditure rather than significant improvements in revenue mobilisation.
Addressing the press on Wednesday, July 22, the Chairman of the NPP Policy Co-ordination Committee, Kojo Oppong Nkrumah, argues that the fiscal numbers the government is expected to highlight during Thursday’s Mid-Year Budget Review require closer scrutiny.
According to him, while government may present the country’s movement from stabilisation to growth as a major achievement, the underlying data raises questions about the sustainability and quality of the gains.
Mr Oppong Nkrumah explained that government’s own published figures show that revenue performance fell short of expectations, with the surplus being recorded mainly because expenditure was compressed.
“The government will cite a 2025 primary surplus of 2.6 percent of GDP on commitment basis, against a target of 1.5 percent. But look underneath. Revenue missed the revised target by 4.7 percent. The surplus was delivered because expenditure was compressed by 13.8 percent,” he said.
He cautioned that relying on expenditure cuts to achieve fiscal targets could have implications for development and public services if sustained over a long period.
The former Information Minister said the NPP’s Policy Committee on Finance and Economy had been reviewing recent economic data and identified what it described as “props” being used to achieve government’s fiscal numbers.
Mr Oppong Nkrumah is expected to raise further concerns about government’s revenue mobilisation strategy, debt management and the broader economic outlook ahead of Finance Minister Dr Cassiel Ato Forson’s presentation of the 2026 Mid-Year Budget Review on Thursday.
Latest Stories
-
Libya’s military seizes narcotics after firefight with smugglers
2 hours -
At least 139 migrants dead, including some children, after boat from Djibouti to Yemen capsizes, UN agency says
2 hours -
“US Embassy introduced TRIBE Culture Fest to NSA, GTA” – Kofi Adams
2 hours -
“NSA did not tell us of any embassy arrangement” – Kofi Adams
3 hours -
Kumasi records third commercial fire in three days
4 hours -
Trump faces growing backlash over plans to import diesel from Russia
4 hours -
AI is less regulated than milk, says Microsoft president
4 hours -
Boots sold in £7bn deal to Canadian billionaire family
4 hours -
Glasner suffers loss on Selhurst return as Palace beat Forest
4 hours -
WAFU B U17: ‘We won but I expected more from my boys’ – Kassim Ocansey
4 hours -
Royal Mail plans to cut 2,500 jobs
4 hours -
Man City cruise to statement win over 10-man Liverpool
4 hours -
Citroen revives the 2CV for an electric age
4 hours -
Blind guide dog owner says quiet EVs put lives at risk
5 hours -
Hamilton apologises to Ferrari as Antonelli moves to brink of title
5 hours