“This budget is full of decep­tions and distortions. It offers no real comfort to the average Gha­naian who is feeling the pinch of rising prices, unemployment, and deteriorating living conditions,” he said.

Dr Adam accused the Finance Minister of breaking promises made earlier in the year, citing the introduction of the so-called “Dumsor levy”, which he claimed had added nearly GH¢4.00 to the price of a gallon of petrol, despite assurances to reduce fuel prices.

He lamented that electricity tariffs had increased by a cumu­lative 17 per cent in the first half of the year, despite the Minister’s previous pledges not to pass inef­ficiencies in the energy sector onto consumers.

On the controversial Gold Pur­chase Programme (Goldbod), the Minority contended that the gov­ernment had failed to adequately fund the initiative, resulting in the Bank of Ghana pre-financing pur­chases at unsustainable costs. “It is unfortunate that while small-scale miners suffer from low prices, the government boasts of US$5 billion in gold exports,” he said.

According to Dr Adam, the government’s claims of improved international reserves and current account surplus were misleading.

“Out of the $11.12 billion in gross international reserves, $8.9 billion was inherited from the previous administration. The actual addition is only $2.2 billion,” he claimed, adding that the figures presented did not reflect the reali­ties on the ground.

He also accused the government of manipulating foreign exchange markets to maintain the cedi’s value artificially, referencing an IMF statement that warned against excessive central bank interven­tions in the forex market.

“The real value of the cedi should be judged by its purchas­ing power,” he stated, pointing to increases in prices of basic items such as bread, water, deodorant, and kenkey over the past seven months.

Touching on debt management, Dr Adam said the government’s claims of reducing the public debt-to-GDP ratio were disingen­uous. “The reduction in debt is largely due to the debt restructur­ing initiated by the previous NPP administration, including $5 billion in cancelled debt and $4.7 billion in service savings,” he said.

He further criticised the gov­ernment’s wage bill management, rejecting claims that wage pres­sures were the result of NPP-era recruitments in 2024. He stated that all such recruitments were approved by the Finance Ministry and factored into the 2025 Budget.

“If anything is driving up the wage bill, it is the numerous advi­sors and special assistants appoint­ed by this government,” he added.

According to the Minority, Gha­naian workers have been left worse off, saying “While public sector wages went up by just 10 per cent, the government has increased taxes and tariffs. Electricity inflation now stands at 139 per cent year-on-year,” Dr Adam said.

He also mentioned a steep rise in taxes and charges, including VAT on insurance premiums, increases in fuel prices, water and electricity tariffs, and higher fees across public services such as immigration, education, business licensing and health.

“This government, within just seven months, has introduced about 10 new tax handles, a feat unprecedented in recent history,” he noted, describing the fiscal strategy as “a rip-off ” of the Gha­naian taxpayer.

“We urge the government to be transparent and prioritise the real needs of Ghanaians. This propa­ganda economics must stop,” he said.