Ghana’s public debt hits ¢742 bn

Ghana’s Finance Minister Dr. Mohammed Amin Adam has disclosed that as of June this year, the central government’s provisional total debt stood at GH¢742 billion (US$50.9 billion), equivalent to 70.6 percent of the Gross Domestic Product (GDP).

During the presentation of the 2024 mid-year budget review in parliament in Accra on Tuesday, Dr. Adam stated, “The debt has increased by 22.0 percent, mainly due to the depreciation of the cedi and continuous disbursements from creditors.”

Dr. Adam further explained, “The total debt comprises GH¢452.0 billion in external debt and GH¢290.0 billion in domestic debt, accounting for 60.9 percent and 39.1 percent of the total debt stock, respectively. In terms of GDP, external and domestic debt represent 43.0 percent and 27.6 percent, respectively.”

Read the full text of mid-year review 

2024 Mid year Fiscal Policy Review Final_240723_150628