Ghana’s Total Debt: Every Ghanaian Owes GHC 12,000
This means in just two months the Akufo-Addo government has added Ghc3.5billion more to the country’s debt.
- Advertisement -
By the end of July 2021, the country’s total debt overseen by the Akufo-Addo administration had hit Ghc335.9 billion.
This means in just two months the Akufo-Addo government has added Ghc3.5billion more to the country’s debt.
- Advertisement -
In May 2021, the total public debt stood at ¢332.4 billion, equivalent to, about 75.7% of Gross Domestic Product (GDP).
- Advertisement -
The new debt levels equal 76.4% of GDP according to the latest data from the Bank of Ghana. This means that if spread across the 30 million Ghanaians, everybody owes approximately GHC 12,000.
- Advertisement -
Even so, the rate of increase has slowed down considerably – in May 2021, GH¢27.8 billion had been added to the debt stock.
A breakdown of the debt shows the domestic component of the debt increased by ¢173.9 billion from ¢170.8 billion in May 2021- equivalent to 39.5% of Gross Domestic Product.
For the external component, it increased by US$100 million in May 2021 to $28 billion in July 2021 representing some 37.0% of GDP.
Source: whasupnewsghana
- Advertisement -
