A development economist and lecturer at the University of Ghana, Dr George Domfe, has raised concerns about the country’s fiscal direction, particularly the reported use of borrowing to finance public sector salaries.
In a Facebook post shared on March 25, 2026, Dr Domfe questioned the rationale behind what he described as borrowing as much as GHS 17 billion to pay salaries, suggesting that such an approach raises serious concerns about economic management.
He argued that measures such as injecting dollars into the market to stabilise the cedi may create only temporary relief, while underlying issues like revenue mobilisation remain weak.
According to him, reliance on borrowing as a fallback mechanism points to deeper structural challenges within the economy.
Dr George Domfe further questioned whether the current approach should be seen as a failed fiscal strategy or a disguised crisis, cautioning that such practices could have long-term implications for economic stability.
His comments contribute to ongoing public discourse about fiscal sustainability, government spending, and the effectiveness of current economic policies.