Claim: Ato Forson projected a GDP growth lesser than 5.7% of 2024
Source: Alexander Afenyo-Markin
Verdict: True
The Minority Leader and Member of Parliament for Effutu, Alexander Afenyo-Markin, in his initial response to the 2025 budget claimed the Finance Minister, Dr Cassiel Ato Forson, projected a lower GDP growth rate compared to the 5.7% recorded in 2024.
“It is very clear, Mr Speaker, under the economy that they complain about, the growth was 5.7%, and under the reset economy, the growth is rather going down, you are projecting a 4 point something growth, that is what you are doing… Mr Speaker, the economy they are complaining about left us with 4 months of import cover, and they are projecting under reset, 3 months,” he said.
Fact-check
GhanaFact fact-checked the Minority Leader’s claim by re-visiting the speech by the Finance Minister. On the 2024 GDP growth, the Minister said: “Mr. Speaker, provisional 2024 GDP statistics published by the Ghana Statistical Service (GSS) on 10th March 2025 shows that overall real GDP grew by 5.7 percent in 2024, compared to the growth rate of 3.1 percent recorded over the same period 2023.”
On page 33 under macroeconomic targets, the Finance Minister stated: “Mr. Speaker, in pursuit of the overarching macroeconomic objectives, the following macroeconomic targets have been set for the 2025 fiscal year:
“i Overall Real GDP growth of at least 4.0 percent;
“ii Non-Oil Real GDP growth of at least 4.8 percent.”
Verdict
Therefore, the claim that the Minister of Finance projected about 4% growth under the NDC government is True.
