2026 Budget: Public debt records sharpest decline in over a decade – Finance Minister

Finance Minister Dr. Cassiel Ato Forson has announced that Ghana’s public debt has experienced one of the most significant declines in the country’s history.

Presenting the 2026 Budget Statement to Parliament on Thursday, November 13, Dr. Forson revealed that total public debt fell from GHS726.7 billion, representing 61.8% of GDP in 2024, to GHS630.2 billion, or 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% in 2024 to a negative 13.3% in 2025,” he announced.

The Minister attributed the decline to strengthened fiscal discipline, prudent borrowing practices, and a more stable cedi, noting that these measures have firmly placed Ghana’s public debt on a sustainable downward trajectory.

READ ALSO:

• 2026 Budget: Removal of ‘nuisance’ E-Levy did not weaken revenue generation – Ato Forson
• We’ve learned a powerful truth; there’s no shortcut to responsible economic management – Ato Forson
• El-Wak stampede: Why should over 20,000 struggle for recruitment available for only 4,000 people? – Nitiwul