Lawrence Agyinsam, the Member of Parliament for Twifo Hemang Lower Denkyira and former CEO of Ghana EXIM Bank, has voiced serious concerns over the 2026 Budget, particularly criticizing the government’s inadequate allocation for the Tourism Sector.
Agyinsam’s remarks come amid growing apprehension within the industry about its potential to spur economic growth.
Speaking to journalists in Parliament, Agyinsam pointed out that numerous budgetary provisions seem to mirror those found in the 2025 Budget, raising questions about the effectiveness of previously allocated funds, many of which remain unutilized. This stagnant approach has instigated further inquiry into the rationale behind persistent underfunding of sectors with immense growth prospects.
As a member of the Trade, Industry, and Tourism Committee, Agyinsam is particularly sensitive to the implications of the proposed budget allocation of GH¢245 million for the Tourism Sector. He emphatically stated that this amount is grossly insufficient, considering that Tourism could play a pivotal role in job creation and revenue generation for the nation. The sector has the potential to significantly contribute to the economy, yet it continues to be overshadowed by other spending priorities.
The MP expressed his consternation over what he termed a misalignment of national priorities. For instance, he noted that while the Tourism Sector struggles for essential resources, the government has designated a noteworthy GH¢400 million allocation for the purchase of sanitary pads for schoolgirls. While acknowledging the importance of supporting educational needs, Agyinsam argued that the government must also recognize and invest in areas that could facilitate sustainable economic growth and development.
He drew attention to the unfortunate decline of the Year of Return initiative, which had successfully captured international interest and generated considerable revenue for Ghana in previous years. Agyinsam urged the government to revisit and reinvigorate policies that foster growth in the Tourism Sector, emphasizing the potential benefits of increased investment. He believes that a revitalized focus on tourism could lead to enhanced employment opportunities, greater support for local businesses, and an improved international profile for Ghana.
In conclusion, Agyinsam called for a strategic reevaluation of budgetary allocations, insisting that prioritizing the Tourism Sector could pave the way for a more robust and diversified economy, ultimately uplifting the entire nation.
