Bokpin Says Government Must Increase Spending to Stimulate Economic Growth in Ghana

Economist and finance expert Professor Godfred Bokpin has called on the Ghanaian government to increase public spending to stimulate economic growth, arguing that strategic government expenditure is necessary to support businesses, create jobs and strengthen economic activities.

Bokpin maintained that government spending should not be viewed solely as a financial burden, particularly at a time when the country needs stronger economic activities to sustain its recovery and improve living conditions.

According to him, the government must be willing to invest in productive sectors of the economy to create opportunities for businesses and individuals while supporting long-term national development.

He explained that increased public expenditure, when properly targeted and efficiently managed, could stimulate demand, encourage private sector investment and improve productivity across different sectors.

Bokpin’s comments come amid ongoing discussions about Ghana’s economic direction, fiscal consolidation and the government’s efforts to balance expenditure with its commitment to reducing public debt.

Ghana has faced significant economic challenges in recent years, including high inflation, currency depreciation, rising public debt and increased pressure on households and businesses.

Although economic recovery efforts have focused on restoring fiscal stability, economists have continued to debate the appropriate balance between controlling government expenditure and investing in activities that can generate growth.

Bokpin’s position suggests that excessive restrictions on government spending could limit economic opportunities if they prevent critical investments in infrastructure, education, healthcare and other productive areas.

He believes government expenditure should be directed towards sectors capable of generating economic returns rather than spending without clear development objectives.

The economist’s argument also highlights the importance of ensuring that public funds translate into measurable improvements in productivity, employment and business performance.

However, he stressed the need for responsible spending, suggesting that stimulating economic growth should go hand in hand with effective financial management and accountability.

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