The Bank of Ghana has disclosed in its March 2024 Summary of Economic and Financial Data that Ghana’s public debt reached GH¢610 billion ($52.4 billion) at the end of 2024,
The figure went up by GH¢42.7 billion between September 2023 and December 2023, after it fell by ¢14.2 billion between June 2023 and September 2023 to ¢567.3 billion ($51.0 billion).
The total public debt stock of the country is equivalent to 72.5% of Gross Domestic Product (GDP), the date said.
The data indicated that the domestic debt went up by GH¢19.1 billion, while the external debt increased by GH¢23.6 billion, largely as a result of the cedi depreciation.
It further revealed that the external component of the total public debt stood at $30.1 billion (¢350.3 billion) in December 2023.
This represented 41.6% of GDP.
In terms of the domestic debt, it stood at ¢259.7 billion in December 2023, about 30.1% of GDP.
Fiscal deficit to GDP stood at 3.3%
The report said the government’s fiscal operations was on target as the deficit-to-GDP stood at 3.3% in December 2023, as against 8.3% of GDP in December 2022.
The primary balance was however a surplus of 0.4% of GDP in December 2023.
By: Rainbow Radio online.com/Ghana
