Audio By Carbonatix
Finance Minister, Dr Mohammed Amin Adam, has revealed that as of the end of June 2024, government debt reached GH¢742.0 billion (US$50.9 billion).
According to him, this is equivalent to 70.6 per cent of the country's Gross Domestic Product (GDP).
Speaking during the 2024 mid-year budget review in parliament on July 23, he said, “This indicates an increase of 22.0 percent due to the effect of the cedi depreciation and the continuous disbursements from creditors.“
The finance minister explained that out of the total debt, GH¢452.0 billion was external debt, making up 60.9 percent, while GH¢290.0 billion was domestic debt, accounting for 39.1 percent.
“As a percentage of GDP, external and domestic debt represented 43.0 percent and 27.6 percent, respectively,” he said.
Latest Stories
-
World Cup 2026: The Stars that were a kick away from a semi-final 16 years ago, arrive in USA not as standard-bearers
3 minutes -
Sky Train trial: $2m loss was caused by Covid-19, defence lawyers argue
15 minutes -
Petrol prices set for sharpest drop in months as fuel costs fall from June 16
22 minutes -
Vehicle pollution, a leading risk factor for death in Ghana both the children and working class
41 minutes -
GNFS intensifies fire prevention campaigns in Eastern Region
49 minutes -
Presidency cuts political appointees by 124, but compensation bill jumps 148% and staff classifications raise questions
50 minutes -
Retirees benefit from 7th health screening of Lordina Foundation
56 minutes -
Sogakope residents storm ECG office over alleged overbilling, poor service delivery
1 hour -
BoG extends registration deadline for money transfer operators
1 hour -
Esiama Market to become commercial hub of Ellembelle – Kofi Buah
1 hour -
Black Stars to depart Rhode Island for Toronto today ahead of Panama clash on Wednesday
1 hour -
Wenchi 24-Hour Market project takes shape
1 hour -
Suaman MP urges NPP members to rally behind Dr Bawumia for victory 2028
2 hours -
Auditors’ Court to be established to prosecute audit offences – Ato Forson
2 hours -
Ato Forson raises concern over public sector waste, calls for stronger internal audits
2 hours