Gideon Boako, the Member of Parliament for Tano North, has mounted strong opposition to the Finance Minister’s approach to the 2026 Budget, arguing that the strategy of heavy fiscal tightening is harming national progress rather than supporting it.
During deliberations on the budget, he warned that the government’s aggressive trimming of expenditure appears designed to present impressive numbers on paper while depriving critical areas of the economy of the resources they need. He maintained that the level of contraction being implemented goes beyond responsible financial management and has instead created setbacks across essential sectors.
Dr. Boako highlighted the scale of the reductions, noting that spending on goods and services dropped by 44 percent in the first three quarters, while capital expenditure fell even more sharply—by 66 percent. Based on the figures, he estimated that the country has missed out on roughly US$1.1 billion worth of public investment that could have supported growth.
The lawmaker further pointed out that the shortfalls projected for 2025 confirm that funds meant for priority programmes did not reach their intended targets. He stressed that the consequences of the cuts are visible nationwide, with ministries struggling to meet their obligations due to lack of financial support.
He also indicated that even members of the government’s own executive branch are dissatisfied with the situation, as the stringent reductions leave them unable to carry out key initiatives.
Dr. Boako concluded by urging the Finance Minister to shift focus toward policies that stimulate real economic expansion rather than relying on strategies that make fiscal performance appear stronger than it truly is. He insisted that Ghana must move quickly to place its growth agenda back on course.
