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
-
Football Impact Africa’s Ghetto Love Initiative inspires change in Teshie
4 mins -
Peter Toobu calls for tighter border security over uncovered weapons at Tema Port
7 mins -
Gov’t has failed its commitment to IPPs – Ablakwa
11 mins -
Sell Chrome to end search monopoly, Google told
22 mins -
KATH to install seven new dialysis machines by end of November
26 mins -
Walewale: Police confiscate 37 bags of cocoa beans suspected of being smuggled out of Ghana
37 mins -
‘Expired’ Rice Scandal: FDA confirms rice was safe for consumption after rigorous lab tests
42 mins -
Many women have experienced intimate partner violence – Angela Dwamena Aboagye
1 hour -
Power challenges persist due to government’s mismanagement of revenues – Okudzeto Ablakwa
2 hours -
Jordan Ayew injury not as bad as feared – Leicester City boss
2 hours -
Stonebwoy heads to North America for UP & RUNNIN6 tour
2 hours -
FDA explains extension of best-before date for ‘expired’ rice
2 hours -
Rebecca Akufo-Addo, Mahama storm Akuapem North as NPP NDC slugs it out
2 hours -
Fatawu’s injury a big blow for us – Leicester City manager
2 hours -
No MC has influenced pop culture in 2024 more than me – Portfolio
2 hours