Minister of Education, Haruna Iddrisu
Minister of Education Haruna Iddrisu has painted a bleak picture of Ghana’s economic situation, describing it as one “burdened by debt” and “on the verge of failing.”
His remarks followed Finance Minister Dr. Cassiel Ato Forson’s presentation of the 2025 Budget, which, according to Iddrisu, exposed the true state of the nation’s economy.
“What we witnessed was an economy burdened by debt, an economy in crisis—one that is on the verge of failing,” Iddrisu stated, emphasizing the urgent need for corrective measures.
While acknowledging projections of economic growth, he cautioned against viewing them as a solution to Ghana’s financial difficulties. “Growth alone is not enough. It does not reflect the deep challenges that Ghanaians continue to face in their daily lives,” he noted.
A major concern he raised was the declining state of the Ghana Cocoa Board (COCOBOD), an institution once regarded as the backbone of the economy.
“How is it that the Cocoa Board, once the backbone of our economy, is now struggling?” he questioned. “Today, the Cocoa Board is mired in debt,” highlighting the ongoing struggles facing this vital sector.
Iddrisu further argued that the challenges confronting Ghana’s economy are more complex than they appear in the budget statement.
“The situation is far more complex than what the budget may suggest,” he remarked, urging the public to manage their expectations. “The expectations of Ghanaians should be realistic,” he added, explaining that the budget is merely a starting point for addressing the country’s economic woes.
He also reiterated the Finance Minister’s call for collective effort in rebuilding the nation.
“This is why the Finance Minister called on the public to join him in building the Ghana we want,” he said, stressing that the country must move beyond rhetoric and take actionable steps toward economic recovery.
For Iddrisu, the priority remains fixing what he described as years of economic mismanagement.
“What we need now is to correct the ills caused by the mismanagement of the economy,” he asserted.