Kojo Oppong Nkrumah, Member of Parliament for Ofoase Ayirebi, has alleged that the government, through the Bank of Ghana, has injected US$8 billion into the economy this year to stabilise the Cedi amid persistent foreign exchange pressures.

Speaking during the debate on the 2026 Budget, the former Information Minister cautioned that the intervention was only a short-term measure. He warned that any significant external shock could quickly erode the progress made, leaving the currency exposed once more.

Oppong Nkrumah further revealed that the government had slashed GH¢28 billion from its expenditure after missing revenue targets. Due to this shortfall, he said the administration was unable to allocate the planned US$5 billion to the Feed Ghana programme, which was expected to drive agricultural growth.

He also criticised the government for failing to release GH¢51 million as seed capital for the Women’s Development Bank, describing the omission as a major setback to women’s economic empowerment.

The lawmaker questioned the government’s fiscal priorities, pointing to its announcement of plans to purchase two executive jets at a time when, according to him, essential sectors lacked adequate funding. He urged the administration to rethink its spending strategy and redirect investments toward productive sectors that can drive growth and create sustainable jobs.

Responding to the concerns, Cletus Seidu Dapilah, the MP for Jirapa, defended the 2026 Budget. He expressed confidence that it provided a solid foundation for economic recovery and would create employment opportunities for the youth.