The Minister of Finance, Dr Amin Adam Mohammed has announced during the mid-year budget reading in Parliament that, Ghana’s public debt has accrued an amount of GH¢83.4 billion.
According to Hon. Dr Mohammed Amin Adam, the provisional amount of Ghana’s total public debt which was reported by the central government is currently at an amount of GH¢742 billion which is equivalent to US$50.9 billion as of June 2024. This figure represents 70.6 percent of the Gross Domestic Product (GDP).
During the presentation of the mid-year budget by the Finance Minister on the 23rd of July, 2024, in Parliament at the capital of Ghana, Dr Mohammed Amin Adam said “This indicates an increase of 22.0 percent due to the effect of the cedi depreciation and continuous disbursements from creditors.”
“The stock consists of external debt of GH¢452.0 billion and domestic debt of GH¢290.0 billion, representing 60.9 percent and 39.1 percent of the total debt stock, respectively,” Dr Mohammed Amin Adam further detailed.
“As a percentage of GDP, external and domestic debt represented 43.0 percent and 27.6 percent, respectively,” he added.