Ghana's public debt-to-GDP ratio for 2024 has dropped significantly to 61.8%, marking a notable decline from the peak of 80.4% recorded in 2020.
According to the Tano North Member of Parliament, Dr Gideon Boako, this reduction is a direct result of the government's debt management strategy, which has successfully restored the country's debt sustainability. "With this GDP figure out, our new public debt-to-GDP ratio for 2024 now stands at 61.8%," he stated in a Facebook post on March 10. "This is a massive drop in the public debt-to-GDP ratio from 80.4% in 2020.
This is also below the pre-COVID-19 level when the debt-to-GDP ratio was 65.7%," he added. (2) Gideon Boako - NPP delivers: Ghana wins The Ghana Statistical… | Facebook He said this development is expected to be officially announced by the Finance Minister, Dr Cassiel Oto Forson in the 2025 budget presentation to Parliament on March 11.
Citing the Ghana Statistical Service's March 10 announcement, Dr Boako emphasised that the strategy implemented by the New Patriotic Party (NPP) government had yielded positive results.
