Former Minister for Finance and Member of Parliament for Karaga, Dr Mohammed Amin Adam, has delivered a strong critique of the newly presented 2026 Budget, describing it as one that offers “no hope” to Ghanaians.
Speaking during the parliamentary debate on the fiscal policy presented by Finance Minister Dr Ato Forson, Dr Amin argued that the budget lacked any real promise for economic recovery, job creation, or improved living standards.
“I have already described this budget as growthless and jobless. It does not offer hope to the people of Ghana,” he told Parliament, adding that the policy proposal fails to inspire confidence among key groups, including workers, teachers, and even investors.
According to him, the government’s rhetoric does not match the reality on the ground. “While the government is in this House praising itself, investors out there are saying something different,” he stated.
Dr Amin backed his claims with data from the Treasury market, arguing that investor behaviour paints a worrying picture of declining confidence in the economy.
He revealed that 45 Treasury Bill auctions conducted since January 2025 had failed, representing an alarming 55% failure rate. “If 55% of your Treasury auctions failed, what it means is that confidence in the management of the economy collapsed,” he noted.
Even more concerning, he said, was the market’s reaction shortly after the budget presentation. “Two days after presenting the budget, the market rejected your debt instruments. Your Treasury bills suffered a 30% rejection. That is a vote of no confidence in the economy by investors in this country.”
While the Finance Minister touted the achievement of single-digit inflation, Dr Amin argued that the government was masking the real struggles of ordinary Ghanaians.
He acknowledged that single-digit inflation is generally positive for any economy, noting, “This was why, under the government of President Nana Addo Dankwa Akufo-Addo, we achieved single-digit inflation in 2018 and 2019, two years running.”
However, he insisted that the current figures do not reflect the true cost of living. “When you unmask this single-digit inflation we have today, you will see a troubling picture,” he cautioned.
Dr Amin explained that the prices of essential commodities within the inflation basket have increased significantly, “higher than what we saw in 2024”, despite the reported inflation improvement.
Dr Mohammed Amin Adam’s critique positions the 2026 Budget as one that fails to restore confidence among investors and citizens alike. His argument combines economic data with lived reality, painting a picture of a fiscal plan that, in his view, falls short of reviving a struggling economy.
