Ghana’s public debt has fallen to GH¢761 billion as of October 2024.
This is a GHS46.8 billion decrease compared to the GH¢807.8 billion recorded in September 2024.
According to latest data from the Bank of Ghana, the new public debt figure represents 74.6% of Gross Domestic Product (GDP).
In dollar terms, the total debt stock stood at US$46.8 billion during the period under review declining from the US$51 billion the previous month.
However, on a year-on-year basis, the report indicates a GHS 175 billion rise in public debt.
These are according to the Bank of Ghana’s Summary of Economic and Financial Data for November 2024.
External debt accounted for GH₵453.7 billion (US$27.9 billion), while domestic debt accounted for GH₵307.3 billion.
The primary balance recorded a deficit of 1.8% of GDP.
Ghana’s economy was valued at GH¢1.020 trillion as of October 2024, according to the data set.
The decline, though modest, reflects efforts to manage the country’s rising debt burden amidst significant economic pressures.