29.6 C
Sunday, December 3, 2023

Related stories

Govt borrowing to buy cocoa, our main cash crop – IEA boss

John Kwakye, the Senior Economist and Director of Research...

Credit bureaus’ minimum capital soars to GHS6m

The Bank of Ghana (BoG) has raised the bar...

By 2028 Ghana will be agriculturally independent – Byran Acheampong

Minister of Food and Agriculture, Bryan Acheampong, has decried...

Akufo-Addo set to launch Ghana’s Electric Vehicle Policy in Dubai today

On Saturday, December 2, 2023, the Minister for Transport,...

We can meet local demand, we have the capacity – AGI

The Association of Ghana Industries (AGI) has asserted that...

Ghana hopeful of completing external debt restructuring discussions by end of next week

Finance Minister Ken Ofori Atta has acknowledged concerns regarding...


Ghana’s public debt climbs to GH¢575.5 billion

Ghana’s public debt has surged to GH¢575.5 billion as of June 2023, which accounts for 71.9 percent of the national gross domestic debt.

This marks a marginal increase of GH¢6.3 billion compared to the GH¢569.2 billion in public debt recorded in April 2023.

- Advertisement -

According to the September 2023 Bank of Ghana Summary of Economic and Financial Data, Ghana’s public debt has seen a total rise of GH¢27.7 billion since January 2023. Of this debt, GH¢328.6 billion (equivalent to US$29.9 billion) is attributed to external debt, while GH¢246.9 billion ($30.8 billion) is from domestic sources.

Notably, the figures reveal a GH¢7.3 billion increase in external debt compared to April 2023, when it stood at GH¢321.3 billion. In contrast, domestic debt has decreased slightly from GH¢247.9 billion to GH¢246.9 billion over the same period.

- Advertisement -

However, the nominal GDP has remained stable at GH¢800.9 billion as of June 2023, maintaining the level reported in January 2023.

This represents a significant increase from the GH¢610.2 billion reported in June 2022.

Latest stories