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:
Summary-of-Economic-Financial-Charts-September-2023 Summary-of-Economic-Financial-Data-September-2023
Source: ghanaweb.com
