Economist Prof. Godfred Bokpin has warned that the government cannot continue on its current fiscal path beyond 2026. He believes the government must ensure that future budgets reflect the promises it made to Ghanaians.

On May 12, 2025, Prof. Bokpin shared his views on JoyNews’ PM Express. He emphasized that the government must align the budget for 2026 and 2027 with its commitments.

“From 2026, the government must operate a budget that reflects its promises to the people,” he stated.

He pointed out that this year’s actions are insufficient. “We aren’t doing enough this year,” he said. “Stabilizing the cedi is positive, but it isn’t enough. I don’t support significant disruptions in the market.”

According to Prof. Bokpin, Ghana must focus on building long-term confidence. “We need to accumulate reserves to sustain confidence over five or ten years,” he explained.

He also stressed that the 2026 budget will show the limits of the current fiscal strategy. “We cannot continue with expenditure-based fiscal consolidation to stabilize the cedi,” he added.

Prof. Bokpin also emphasized that stabilizing the currency should not come at the cost of real economic change. “Look at the Asian growth model and how interest rate improvements supported growth,” he said.

He concluded by saying the government must change its fiscal strategy after 2026. “The current strategy won’t work beyond 2026,” he warned.