Dr. Ato Baah Forson, Ghana’s Minister of Finance, refuted the NPP’s claim of a strong economy post-2024, attributing the 5.7% growth to illegal mining (galamsey). He highlighted a notable 19.1% growth in the mining sector, raising concerns about the sustainability of such economic drivers.
Dr. Cassiel Ato Baah Forson, the Minister of Finance, has challenged the New Patriotic Party’s assertion that it left behind a robust economy, given that Ghana achieved a 5.7 percent growth rate in 2024. He indicated that this growth was primarily fueled by illegal small-scale mining, commonly referred to as galamsey.
In his presentation of the 2025 Budget Statement to Parliament on March 11, 2025, Dr. Ato Forson identified key contributors to economic growth, with a significant focus on the mining and quarrying industries. He referenced provisional GDP statistics from the Ghana Statistical Service (GSS), which were made public on March 10, 2025.
The Minister highlighted that the mining sector, inclusive of both legal and illegal gold mining operations, demonstrated extraordinary growth, reaching 19.1%. This increase substantially contributed to the country’s overall economic growth.
Dr. Ato Forson asserted, “Mr. Speaker, provisional 2024 GDP statistics published by the Ghana Statistical Service (GSS) on 10th March 2025 show that overall real GDP grew by 5.7% in 2024.” He emphasized the pivotal role of mining, particularly stressing that while galamsey activities have driven growth, they are not a sustainable solution for the economy.
In summary, Dr. Ato Forson has effectively countered the claims made by the New Patriotic Party regarding the state of Ghana’s economy. He provided substantial evidence that the 5.7% growth in 2024 can be largely attributed to the illegal small-scale mining sector, indicating potential volatility in future economic expansions if such reliance continues.
Original Source: www.gbcghanaonline.com
