The Minister for Finance, Dr Cassiel Ato Forson, has announced a significant reduction in Ghana’s debt-to-GDP ratio in 2024.

Speaking during the presentation of the 2025 Budget Statement in Parliament on Tuesday, 11th March, he highlighted the progress made in managing the country’s debt burden.

Dr Forson stated that the sharp decline in the debt-to-GDP ratio was a result of deliberate fiscal policies implemented by the government.

“The debt-to-GDP ratio reduced drastically in 2024, reflecting our commitment to restoring macroeconomic stability and ensuring a sustainable debt trajectory,” he said.

He further noted that Ghana’s economic performance had exceeded expectations despite prevailing global financial challenges.

The Minister attributed the reduction to prudent debt management strategies, including restructuring initiatives and controlled government borrowing.

He assured Parliament that Ghana was on track to achieving its debt sustainability targets ahead of schedule.

“Our approach to fiscal discipline and strategic economic planning has yielded positive results, positioning Ghana for long-term financial stability,” he added.

Dr Forson reaffirmed the government’s commitment to maintaining this momentum, ensuring that future borrowing aligns with economic growth and revenue generation capacity.

He emphasised that ongoing reforms in public finance management would further strengthen Ghana’s economic resilience while creating a favourable environment for investment and development.