Finance Minister Dr. Cassiel Ato Forson has announced a significant decline in Ghana’s public debt, describing it as a clear sign that the government’s debt management strategy and fiscal consolidation measures are producing tangible results.

Presenting the 2026 Budget in Parliament on Thursday, Dr. Forson said provisional data show that “Ghana’s total public debt declined from GH¢726.7 billion (61.8% of GDP) at the end of December 2024 to GH¢630.2 billion (45.0% of GDP) by the end of October 2025.”

He added that this marks one of the steepest improvements in the country’s debt metrics in recent history.

The Finance Minister attributed the turnaround to disciplined fiscal management, prudent borrowing, effective liability operations, and the strong performance of the Ghana cedi.

“For the first time in over a decade, the rate of debt accumulation has turned negative — falling from a positive 19.1 percent in 2024 to a negative 13.3 percent by October 2025,” he revealed.

Dr. Forson stressed that this development is a powerful signal that Ghana’s public finances are once again on a sustainable path, adding that government remains committed to maintaining fiscal discipline while driving economic transformation.