Ghana’s public debt has reached a total of GH¢658.6 billion.
The amount is an increase of GH¢47.4 billion within the first two months of 2024.
The Bank of Ghana, in its May 2024 Summary of Economic and Financial Data, disclosed this.
This accounted for 62.7% of the gross domestic product (GDP) by February 2024.
The external debt stands at GH₵380 billion, which is equivalent to 36.1% of the GDP.
The data disclosed that Ghana’s debt was GH¢611.2 billion at the end of 2023, but it rose to GH¢626 billion in January 2024 and further increased to GH¢658.6 billion in February 2024.
According to the data, the increase can be partially attributed to the depreciation of the cedi against major trading currencies.
By: Rainbowradioonline com/Ghana
