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Ghana's public debt rises to GH¢575.5 billion as of June 2023

Nana Addo Dankwa Akufo Addo Ken Ofori Atta1erfr Ken Ofori-Atta, Finance Minister and President Akufo-Addo (right)

Sun, 24 Sep 2023 Source:

Ghana’s public debt as of June 2023 surged to GH¢575.5 billion representing 71.9 percent of the national Gross Domestic Debt.

The new increment is a marginal rise of GH¢6.3 billion as compared to the GH¢569.2 billion public debt recorded in April 2023.

The September 2023 Bank of Ghana Summary of Economic and Financial Data reveals that, the country’s public debt has increased by GH¢27.7 billion since January 2023.

According to the report, Ghana’s external debt accounted for GH¢328.6 billion (US$29.9 billion), while domestic debt accounted for GH¢246.9 billion ($30.8 billion).

The latest figures indicate that external debt shot up by GH¢7. 3 billion compared to April 2023 of GH¢321.3 billion, while, domestic debt declined from GH¢247.9 billion to GH¢246.9 billion for the same period.

Contrastingly, the Nominal GDP has held steady at GH¢800.9 billion as of June 2023, maintaining the same level as it was in January 2023. However, this represents a significant increase from the GH¢610.2 billion reported in June 2022.

See the figures released by the BoG below:


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