Ghana’s public debt has recorded a significant decline, marking one of the sharpest drops in the country’s history, according to Finance Minister Dr. Cassiel Ato Forson.
Presenting the 2026 Budget Statement to Parliament on Thursday, November 13, the Minister revealed that total public debt fell from GHS726.7 billion (61.8% of GDP) in 2024 to GHS630.2 billion (45% of GDP) by October 2025.
“For the first time in over a decade, we have recorded a negative rate in debt accumulation, from a positive 19.1 percent in 2024 to a negative 13.3 percent in 2025,” he stated.
Dr. Forson attributed the turnaround to fiscal discipline, prudent borrowing, and a stronger cedi, noting that these factors have put Ghana’s public debt on a firm downward path.
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