Ghana’s Finance Minister, Dr. Cassiel Ato Forson, revealed that the country’s debt has escalated to a staggering GH¢786.7 billion by the end of 2024.
This disclosure was made during the presentation of the 2025 Budget to Parliament, highlighting the pressing need for fiscal reform and economic stabilization.
He said “Ghana’s debt at the end of 2024 was 786.7 billion cedis”.
The Minister also pointed out that in 2024, the government’s expenditure reached GH¢279.2 billion, marking a significant increase of 27.1% over the approved budget.
“Government in 2024 spent a total of 279.2 billion cedis, 27.1% more than what was approved in the budget.”
This substantial overspending underscores the economic pressures Ghana faces, amidst efforts to stabilize its finances and reduce debt.
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