Ghana’s public debt increases
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Ghana’s public debt stock increased by about GHC 2.1 billion from June to August this year.
This measures about 3 percent increase in the debt level from GHC 63.6 billion to GHC 65.7 billion. This was revealed by the Bank of Ghana on Wednesday.
In terms of the ratio of the debt to GDP, debt rose to 57.3% at the end of August from an initial 55.4% reported at the end of June.
The debt stock level increased by about GHC 13.8 billion in the first eight months of the year representing a 26.5% increase.
Meanwhile, government again missed its revenue target but managed to cut down on expenditure.
Revenue and grants from the beginning of the year to September hit GHC 17.7b illion against a target of GHC 18.4 billion while expenditure was at 24.4billion cedis against a target of GHC 25.8 billion.
Provisional estimates shows the budget deficit from the beginning of the year to August stood at 6.9percent of GDP against a target of 6.4percent.
-Citifm
ABOUT: Nana Kwesi Coomson
[email protected] An Entrepreneur, Corporate Social Responsibility, Corporate Communications Executive and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. His first degree is in Bachelor of Arts - Political Science (major) and History (minor) from the University of Ghana. He holds MSc in Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) from the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track.
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