Minority claims gov't achieved fiscal surplus by compressing expenditure

The Minority in Parliament argued on Wednesday, July 22, at a press briefing, that the government's reported fiscal surplus for 2025 was achieved primarily through reduced public spending rather than improved revenue collection. Kojo Oppong Nkrumah, Chairman of the NPP's Policy Co-ordination Committee, stated, "The government will cite a 2025 primary surplus of 2.6 percent of GDP on commitment basis, against a target of 1.5 percent. But look underneath. Revenue missed the revised target by 4.7 percent. The surplus was delivered because expenditure was compressed by 13.8 percent."

Mr. Oppong Nkrumah maintained that the government's own fiscal figures indicate revenue fell below target, while the reported surplus resulted largely from a significant reduction in expenditure. He warned that achieving fiscal targets mainly through expenditure cuts could have long-term consequences for national development and the delivery of public services if the approach is maintained. The NPP's Policy Committee on Finance and Economy had analyzed recent economic data and identified key factors supporting the government's fiscal performance. Mr. Oppong Nkrumah is expected to outline additional concerns over the government's revenue mobilization efforts, debt management strategy, and the broader economic outlook ahead of Finance Minister Dr. Cassiel Ato Forson's presentation of the 2026 Mid-Year Budget.