Every Ghanaian owes GH¢16,744 if GH¢569.3 billion public debt is distributed individually

Breaking down Ghana’s GH¢569.3 billion and distributing among the country’s 34 million population, each citizen owes GH¢16,744.

This only holds if the country’s debt as of April 2023 which is GH¢569.3 billion is paid today July 24, 2023.

As it stands, it is practically impossible for the country’s debt to be settled in a day, therefore this figure is subject to change.

Data from the Bank of Ghana has revealed that Ghana’s public debt has increased to GH¢593.3 billion as of April 2023.

The country’s debt stock shot up by GH¢96.1 billion in the first four months of 2023, indicative of 71.1% of the Gross Domestic Product.

The increase has been associated with the depreciation of the cedi within the period.

However, it is expected that the country’s debt may reduce due to the debt restructuring programme in the coming months.

SSD/NOQ

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