Ghana: Public debt increases to GHS 393.4bn at end-June 2022
Ghana’s public debt in nominal terms has reached GHS 393.4bn according to new data made available by the Central Bank.
In its Summary of Economic and Financial Data report for July 2022, the Bank of Ghana (BoG) pegged the country’s total public debt as a percentage to Gross Domestic Product (GDP) at 78.3% at end-June 2022.
The new debt figure of GHS 393.4bn represents an increase of GHS 41.7bn from the GHS 351.7bn (70.0% of GDP) total public debt recorded in January 2022.
Compared to the GHS 391.9bn public debt recorded at end-May 2022, the new debt figure represents a month-on-month increment of GHS 1.5bn.
On a year-on-year basis, the country’s debt marks an increase of GHS 58.6bn – from June 2021 to June 2022.
Accounting for the chunk of the country’s public debt was domestic debt which has now increased to GHS 190.1bn from the GHS 181.9bn recorded in January 2022.
On a year-on-year basis (June 2021 – June 2022), that represents an increase of GHS 17.1bn.
Domestic debt as a percentage of GDP as at end-June 2022, stood at 37.8%.
External debt under the review period also increased to GHS 203.4bn from GHS 169.8bn in January 2022.
On a year-on-year basis (June 2021 – June 2022), external debt grew by GHS 41.6bn – from GHS 161.8bn to GHS 203.4bn.
As a percentage of GDP, external debt as at end-June 2022, stood at 40.5%.
