Professor Godfred Bokpin is an Economist
An economist, Professor Godfred Bokpin, has noted that the current government has demonstrated a commendable level of fiscal discipline in its first few months in office.
According to him, this is evident in the recent appreciation of the local currency against major foreign currencies on the market.
He observed that the previous NPP administration engaged in excessive spending, which contributed to the collapse of the economy.
Professor Bokpin stated that the NDC’s fiscal discipline has resulted in a GH¢10 billion reduction in national expenditure compared to 2024.
The cedi has been appreciating against major foreign currencies in recent weeks, trading below GH¢11 as of May 23, 2025.
“If you look at what the economy has been through in the last three years, the excess liquidity injection came from high expenditure. We have seen this government do within five months what we’ve been calling for since COVID-19 (2020–2025). Since COVID, we’ve said we need to cut wasteful spending and pursue gradual fiscal consolidation to ease the pain, but that didn’t happen,” he said as quoted by 3news.com
The economist attributed the recent gains to effective leadership by the Minister of Finance, Dr Cassiel Ato Forson, and the Governor of the Bank of Ghana, Dr Johnson Asiama.
“You can see leadership at the highest level. These are painful choices, but they are producing results,” Professor Bokpin added.
SSD/MA
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