Finance Minister Ken Ofori-Atta says Ghana’s total public debt stock as of the end of December 2022 shot up to GH¢435 billion.
The figure represents an increase from the GH¢351 billion recorded in December 2021.
The Minister said using the revised GDP released by the Ghana Statistical Service in April 2023, the debt-to-GDP ratio as of end-December 2022 stood at 71.3 percent.
The composition of the total debt stock was made up of a provisional amount of GH¢240 billion, equivalent to 39.5 percent of GDP and GH¢194 billion, equivalent to 31.8 percent of GDP for external and domestic debt, respectively.
“Overall first-quarter growth for 2023 was 4.2 percent, up from 3.0 percent recorded for the same period in 2022. This growth largely reflected an increase in the Services Sector which recorded a growth of 10.1 percent;
“Headline inflation eased in the first half of 2023. From the peak at 54.1 percent in December 2022, headline inflation gradually trended downwards from 53.6 percent in January 2023 to 42.5 percent in June 2023. The moderation in inflation was largely supported by monetary policy tightening, relative stability in the exchange rate and lower and stable ex-pump petroleum prices.”
By: Rainbowradioonline.com/Ghana
