Legal practitioner, Martin Luther Kpebu, has advised the Finance Minister, Dr. Cassiel Ato Baah Forson, to keep up with his moderate spending since the excessive spending of the previous administration is still having a toll on the country.
He says the Domestic Debt Exchange Programme (DDEP) which the erstwhile government resorted to restructuring its debt has cost the nation, making the current moderate spending by the Finance Minister a good step.
His comments come on the back of concerns expressed by the opposition New Patriotic Party (NPP) that the Finance Minister is not spending, with government owing many contractors and making standard of living difficult.
Commenting on the 2026 Mid-Year Budget Review on the KeyPoints on Saturday, July 25, 2026, Mr. Kpebu urged for restraint in the Government’s spending, cautioning that the State cannot expend what it doesn’t have.
He said the ramifications of the DDEP is still haunting the economy, something he wants the Finance Minister to take a cue from to be measured with his expenditure.
“Let’s go with the classical school, be balanced,” Kpebu said, adding that “you can’t spend what you don’t have.”
According to Kpebu, some intervention programmes being championed by the Government is taking care of the vulnerable in society, stressing on the need to be prioritise balance in public expenditure.
He said Ghanaians don’t want to experience another DDEP. “I don’t want to experience another DDEP. It looks like we are grossing over the point that DDEP has damaged us long term. People are not going to trust the financial system with their money. People will prefer to keep their money under their beds, etc. So because of the long term damage that this DDEP has done, as a result of their over borrowing etc, let’s stick with the classical school, cut your coat according to your cloth,” he advised.
Kpebu insisted that the effect of the damage still lingers, questioning the rush for Government to borrow. He advised the NPP to go back to excessive borrowing when they next assume power, but stressed the need not to overspend now, considering the impact of the DDEP on Ghanaians and the economy as a whole.
“Next time, when they get the chance to come back, they can try it again then we see. But for now, we haven’t recovered from the damaging effect of what they did. So why the rush to go and borrow?
“We are still paying for the damage they caused. We haven’t recovered from the damage and then there is an advice that we should continue overspending. Who does that?” he quizzed.
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