Ghana’s public debt reaches GH₵610 billion, or 72.5% of GDP.

In addition to a slight increase of GH₵54.3 billion in domestic debt, external debt increased by GH₵109.4 billion, highlighting the country’s increasing reliance on borrowing from outside.

Positively, Ghana’s nominal GDP increased from GH₵614.3 billion to GH₵841.6 billion, indicating a small increase in the nation’s total economic output.

These numbers show that state debt in Ghana is increasing, with the debt-to-GDP ratio reaching alarming heights.

Sustaining the nation’s fiscal stability and economic prospects will require ongoing attention to detail and prudent financial management as decision-makers wrestle with the problems presented by the mounting debt load.

Other stories

• The Southeast region receives financing for electric buses.

• “I will legalize the ‘Okada’ business and implement electric motorcycles,” declared Mahama.

• The Arbella Insurance Foundation reaches a milestone with lifetime donations.

• MoMo Transactions: Beginning on March 1, BoG modifies customer wallet caps

• In a US romance scam trial, Hajia4Real revealed information on a well-known artist, actor, and politician.