A senior lecturer at Kumasi Technical University, Dr. Forkuo, has raised strong concerns about the country’s economic direction, particularly in light of the recent budget presented by Finance Minister Cassiel Ato Forson.
According to him, the repeated emphasis on gold in the budget highlights how central the commodity has become to Ghana’s economic narrative.
Speaking on Wontumi TV’s morning show with Oheneba Asiedu, he explained that from independence until 2021, Ghana’s gold reserves remained around eight tonnes.
“Between 2021 and 2024, Bawumia moved it from eight tonnes to thirty tonnes,” he noted, adding that during that period, the price of gold hovered between “1,700 to 1,800 dollars per ounce.”
Today, however, the global price of gold is significantly higher. “The NDC is lucky—it’s now around 4,000 dollars,” he said. Yet instead of using this favourable situation to create opportunities for the youth, he believes the government is “rejoicing over the depreciation of the dollar.”
Dr. Forkuo also commented on the state of local markets, questioning why imported goods continue to dominate. “They should ask themselves why foods on the market are not being bought.
We are buying foreign rice instead of supporting local rice,” he argued. He added that issues affecting teachers and nurses remain unresolved, pointing out that “teachers sit at home for so long after national service.”
He further highlighted rising spare-parts prices and stalled development projects. “Look at the Anhwea Nkwanya to Ahenema Kokoben road—the construction has been stopped,” he lamented.
On agriculture, he criticized the importation of day-old chicks intended to reduce frozen chicken imports. According to him, “the chicks were not even hatched in Ghana, though we have many poultry hatcheries here.”
He claimed that former President Mahama did not give these hatcheries the recognition they needed. Dr. Forkuo even suggested that accountability issues could emerge from this project, stating that “one day, the agric minister, Eric, may be questioned because he cannot account for the project.”
He concluded by arguing that national funds are being misdirected. “Money reserved for development—schools, hospitals, roads—is being used to depreciate the dollar,” he said.
In his view, Ato Forson’s budget “was crafted to glorify his name, not to benefit Ghanaians.”
Source: wontumionline.com
