Friday, December 6, 2024
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Ghana’s public debt rises to GH¢742bn – Finance Minister

According to Finance Minister Dr. Mohammed Amin Adam, the total amount of government debt as of June 2024 was GH¢742.0 billion (US$50.9 billion).

This amounts to 70.6% of the nation’s GDP, in his estimation.

“This indicates an increase of 22.0 percent due to the effect of the cedi depreciation and the continuous disbursements from creditors,” he remarked on July 23 during the 2024 mid-year budget review in parliament.

According to the ministry of finance, GH¢290.0 billion was domestic debt, or 39.1% of the overall debt, while GH¢452.0 billion was external debt, or 60.9 percent.

“The external and domestic debt represented 43.0 percent and 27.6 percent, respectively, as a percentage of GDP,” he stated.

Randy Osei Akoto
Randy Osei Akoto
A content creator, writer, blogger and digital marketer currently the Editor and writer at 2Rvisionnews.com. Believes in hard work and keeps up with latest trending stories making rounds across the globe in all aspects, from politics, sports, entertainment, health, business etc.

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