Ghana’s public debt hit GH¢733.9 billion in July 2026, from GH¢719.5 billion in June 2026.

This is about GH¢14.4 billion increase over the previous month.

It is equivalent to 45.1% of Gross Domestic Product (GDP), the same as May 2026.

In dollar terms, the public debt stock stood at US$6.8 billion, higher than the US$61.5 billion in May 2026.

According to the September 2026 Summary of Financial and Economic Data by the Bank of Ghana, the country’s public debt has been increasing since January 2026.

 It stood at GH¢663.4 billion in January 2026 and rose to GH¢674.1 billion in February 2026 and subsequently to GH¢686.1 billion in March 2026. Again, it increased to GH¢695.9 billion in April 2026 and then to GH¢720.8 billion in May 2026.

The rising debt is due to increased borrowing on both the domestic and external front and exchange rate losses.

The data showed that the external debt stood at US$28.8 billion (GH¢337.2 billion) in July 2026, lower than the US$ 28.9 billion in June 2026 and US$29.1 billion in May 2026.  This represented 21.1% of GDP.

However, the domestic debt increased to GH¢396.7 billion in July 2026, from GH¢391.1 billion in June 2026 and GH¢379.1 billion in May 2026.

This is about 24.8% of GDP

In April 2026, the domestic debt stood at GH¢369.2 billion, about 23.7% of GDP.

In March 2026, the domestic debt stood at GH¢365.8 billion, whilst it was estimated at GH¢360.4 billion in February 2026 and GH¢341.0 billion in January 2026.

For the government’s fiscal operations, the fiscal balance-to-GDP (Cash) was a deficit of 0.6% in July 2026.

The primary balance, however, stood at a surplus of 1.0% of GDP in July 2026.