Business News Wed, 15 Nov 2017

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Budget 2018: Debt stock dips to 63.8%

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Ghana’s debt-to-GDP (Gross Domestic Product) ratio as of September 2017 has reduced to 63.8 percent, Finance Minister Ken Ofori-Atta has revealed.

“The debt to GDP ratio has declined from 73 percent at the end of December 2016 to 68.6 percent at the end of September 2017,” Mr Ofori-Atta noted on Wednesday, 15 November as he presented the 2018 Budget and Economic Policy Statement to Parliament.

According to him “the annual average rate of debt accumulation of 36.0 percent over the last four years, has declined over the last nine months to about 13.58 percent”.

This, he said government managed to achieve through prudent management of the economy.

“This was achieved as a result of a reduction in the fiscal deficit and a policy of debt re-profiling,” he added.

Source: Class FM

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