Government urged to maintain fiscal discipline and avoid early return to expensive borrowing

Professor Issahaku Haruna, a Senior Lecturer at the Department of Finance, University for Development Studies (UDS) School of Business, has urged government to maintain strict fiscal discipline and avoid an early return to expensive borrowing in order to safeguard Ghana’s ongoing economic recovery.

He made the call during a public lecture themed “The State of Ghana’s Economy and the Role of Journalism,” organised by the Journalism Students Association of Ghana at UDS, Nyankpala. The event brought together students, lecturers, media professionals and public officials to deepen understanding of economic management and the importance of independent journalism in national development.

Delivering his presentation on Ghana’s economic past, present, and future outlook, Professor Haruna noted that although recent recovery measures had helped restore some macroeconomic stability, weak fiscal management could easily erode the progress made. He outlined Ghana’s journey from pre-crisis stability through a period of severe fiscal and debt distress to current recovery efforts, stressing that sustaining growth would require bold and sustained reforms.

He recommended debt re-profiling to reduce the country’s interest-payment burden, increased domestic revenue mobilisation, and a broader tax base that does not overburden already compliant taxpayers. The finance expert also called for accelerated structural reforms to boost productivity, strengthen public financial management, and build resilience in the external sector to better withstand future economic shocks.

Sagnarigu MP, Attah Issah, speaking at the event, highlighted the critical role of economic and financial journalism in promoting accountability and informed public discourse. He stressed the importance of specialised training for journalists to help them interpret complex economic data and policy issues in ways the public can easily understand.

He noted that a well-informed population relies on journalists who can translate technical economic information into clear and relatable messages, ultimately strengthening transparency, accountability, and good governance.