• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

Ghana’s debt-to-GDP ratio falls to 76.6%

3 years ago
in Economy, Features, highlights, Home, home-news, latest News
3 min read
0 0
0
89
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana’s debt-to-GDP ratio falls to 76.6%

Ghana’s public debt expressed as a percentage of Gross Domestic Product (GDP) has witnessed a decline of 3.5 percentage points.

According to a statement published on the website of the Finance Ministry, Ghana’s public debt now stands at 76.6% as at end-December 2021 and not 80.1% as reported earlier.

The decline in the country’s debt-to-GDP ratio, the Ministry attributes to the recorded 5.4% GDP growth for 2021 as against the projected 4.4% growth rate for 2021.

According to the Finance Ministry, nominal GDP at end-2021 is estimated at GHS 459bn, some GHS 18bn more than the projected outturn of GHS 440bn for end-2021 on the back of the higher-than-projected GDP growth (5.4% GDP growth rate).

Adding that, implications for the 5.4% GDP growth rate for 2021 include changes in all economic indicators expressed as a ratio of GDP.

These economic indicators the Ministry noted are the debt-to-GDP ratio, fiscal deficit to GDP ratio and revenue to GDP ratio.

RelatedPosts

Tullow Oil Posts $61 Million Loss for H1 2025 on Lower Oil Prices, Reduced Output

A Turning Point for Ghana’s Payments Industry: Why Clara’s Appointment at GHiPSS is Exactly What the Future Demands 

Appiah Adomako Writes: Why Government Must Take Interest in Who Acquires Shoprite Stores in Ghana

Read: Euro falls below $1.06 for first time in five years

“The Nominal GDP for 2021 is estimated at GH¢459,130.9 million, over GH¢18 billion more than the projected outturn of GH¢440,869.4 million for the period, up from GH¢391,940.7 million recorded in 2020. The Non-oil nominal GDP for 2021 is GH¢437,975.2, up from GH¢378,147.9 million in 2020.

“Ghana’s public debt stock expressed as percentage of GDP now stands at 76.6 percent of GDP at the end of 2021 compared to the earlier reported 80.1 percent. Similarly, the 2020 debt stock has also reduced from 76.1 percent to 74.4 percent, a further confirmation that the rate of debt accumulation has slowed to pre-pandemic levels,” the Ministry stated.

Read full details of statement below: 

Ghana’s Overall 2021 Real GDP Growth Of 5.4 Percent Outperforms The 4.4 Percent Growth Target

Accra, Tuesday 26th April, 2022 – On 20th April, 2022, the official provisional 2021 fourth quarter and overall 2021 annual GDP data were released by the Ghana Statistical Service (GSS).

According to the GSS, real GDP expanded by 7.0 percent in the fourth quarter of 2021 compared to the 4.3 percent growth recorded in the corresponding period of 2020. Similarly, non-oil real GDP in the fourth quarter of 2021 expanded by 7.6 percent compared to 5.7 percent for the same period in 2020.

Press Release On Ghana’s GDP For 2021


On an annual basis, the provisional real GDP growth for 2021 showed a positive outturn of 5.4 percent, exceeding the 4.4 percent 2021 projected outturn by 1 percentage point and the SSA average growth by 0.9 percentage point. This is a clear confirmation that the economy is on the rebound post the COVID-19 pandemic that saw a revised growth rate of only 0.5 percent in 2020. Similarly, the non-oil real GDP expanded from 1.0 percent in 2020 to 6.9 percent in 2021 (the highest non-oil real GDP growth rate since the rebasing was done in 2013) exceeding the target of 5.9 percent for the period.


The Nominal GDP for 2021 is estimated at GH¢459,130.9 million, over GH¢18 billion more than the projected outturn of GH¢440,869.4 million for the period, up from GH¢391,940.7 million recorded in 2020. The Non-oil nominal GDP for 2021 is GH¢437,975.2, up from GH¢378,147.9 million in 2020.

The major implication of this higher-than-projected GDP outturn for 2021 is that all economic indicators expressed as a ratio of GDP will change to reflect the updated GDP data. These ratios include the debt to GDP ratio, a key factor in determining debt 

sustainability, the fiscal deficit to GDP ratio, and Revenue to GDP ratio. The new GDP data also has implications for the nominal 2022 GDP target and the growth rate as it is based on the 2021 GDP data which have now been updated. 

The fiscal deficit (including energy and Finsec payments) is now showing a decline (as a percent of GDP) from 15.0 percent to 14.7 percent of GDP for 2020. Similarly, the fiscal deficit of 2021 has reduced from 11.7 percent to 11.4 percent. 

Ghana’s public debt stock expressed as percentage of GDP now stands at 76.6 percent of GDP at the end of 2021 compared to the earlier reported 80.1 percent. Similarly, the 2020 debt stock has also reduced from 76.1 percent to 74.4 percent, a further confirmation that the rate of debt accumulation has slowed to pre-pandemic levels.

As such, the Ministry of Finance will update its debt sustainability analysis (DSA) and revise its GDP projections for 2022 and the medium-term to reflect the positive developments in 2021 as well as recent policy decisions which have a bearing on sustaining the momentum towards robust economic growth. 

These developments are positive and confirm the fact that, the economy is rebounding post-COVID-19, the rate of debt accumulation is tapering off, and there is a slowdown in fiscal expansion with Ghana on track to return to the Fiscal Responsibility Act deficit threshold of 5 percent of GDP by 2024.  END                        

ISSUED BY THE PUBLIC RELATIONS UNIT
MINISTRY OF FINANCE

Source: norvanreports
Tags: Finance ministryghanaGhana’s debt-to-GDP ratio falls to 76.6%Ghana’s public debt
No Result
View All Result

Highlights

Cocoa Farmers to Protest Against GHS 3,228 New Farmgate Price on August 11, Demand GHS 4,000 per Bag

Top 10 African Countries With the Weakest Currencies in July 2025

U.S. Demands $15,000 Deposit for Visa Applicants From Zambia and Malawi

BoG Governor Urges Banks to Rethink Business Models as Interest Rates Decline

GSE-CI Climbs to 7,040.46 Points as Market Cap Rises by GHS294.3m Despite Trade Slowdown

EOCO Seizes Shatta Wale’s Lamborghini Linked to US Convicted Fraudster Nana Amuah

Trending

Business

Tullow Oil Posts $61 Million Loss for H1 2025 on Lower Oil Prices, Reduced Output

August 6, 2025

Tullow Oil Posts $61 Million Loss for H1 2025 on Lower Oil Prices, Reduced Output Tullow Oil...

A Turning Point for Ghana’s Payments Industry: Why Clara’s Appointment at GHiPSS is Exactly What the Future Demands 

August 6, 2025

Appiah Adomako Writes: Why Government Must Take Interest in Who Acquires Shoprite Stores in Ghana

August 6, 2025

Cocoa Farmers to Protest Against GHS 3,228 New Farmgate Price on August 11, Demand GHS 4,000 per Bag

August 6, 2025

Top 10 African Countries With the Weakest Currencies in July 2025

August 6, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.