Economy cannot be performing well if government is borrowing to pay salaries – Boako

The Deputy Ranking Member on Parliament's Finance Committee and Member of Parliament for Tano North, Dr Gideon Boako, has said that Ghana’s economy can not be termed as healthy if it continues to borrow finance recurrent expenditure like public sector salaries and free senior High School programs.

Speaking during an interview on Peace FM on Monday July 27, 2026, following the 2026 Mid-Year Budget Review, he said the government's actions were inconsistent with its claims of economic recovery.

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“An economy described as doing well should not be borrowing to pay salaries and fund Free SHS as we are seeing under this government,” he said.

According to him, the government's reliance on borrowing to meet basic obligations raises concerns about the sustainability of the country's public finances despite official claims of macroeconomic improvement.

Dr Boako further maintained that a genuinely strong economy should be capable of generating sufficient domestic revenue to finance key government programmes without resorting to borrowing for routine expenditure.

He said while the government continues to project confidence in the economy, the realities reflected in its financing decisions tell a different story and expose underlying fiscal weaknesses.

ANAS/MA

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