…as Ato Forson poopoos 5.7% Galamsey induced growth hyped by ‘Lazy Bawumia Boys’
Finance Minister Dr. Cassiel Ato Forson cautioned the Minority in Parliament from celebrating news of the 5.7 percent economic growth in 2024, stating that such growth driven by activities like illegal mining is not sustainable.
In his presentation of the 2025 budget statement on behalf of President John Dramani Mahama, the Minister confirmed the economic growth figure released by the Ghana Statistical Service on March 10, 2025. The 5.7% GDP expansion in 2024 marked a significant increase from the previous year’s growth rate of 3.1%.
He highlighted that the primary contributor to this growth was gold mining, including illegal small-scale mining, known as galamsey, which has led to environmental damage and a decline in cocoa production.
While the Minority had initially hailed the growth rate, the Minister emphasized the unsustainability of relying on galamsey for economic growth, urging for environmental protection and the government’s commitment to combating illegal mining.
Additionally, the Minister announced the government’s plans to eliminate certain taxes and levies, fulfilling a key campaign promise.
However, this declaration sparked controversy as the Member of Parliament for the Karaga constituency disputed the existence of a betting tax that was supposedly abolished.
The revelation that no such tax had been implemented led to calls for investigation and raised questions about the political promises made during the election campaign.
Overall, the Minister’s budget presentation shed light on the challenges associated with short-term economic growth and the need for sustainable development practices to ensure the long-term prosperity of Ghana.