Ghana’s public debt increased slightly as at November 2015 to GH¢93 billion from GH¢92 billion in August 2015, according to data from the Ministry of Finance.
This shows that from October to November 2015, the Government added about GH¢1 billion to the country’s debt stock. This translates to over 70% of GDP.
However, at a news conference held in Accra on measures being taken to stabilize the economy, the Minister of Finance, Mr. Seth Terpker insisted that the debt levels could have been higher, had it not been the new debt management strategies adopted by the Government.
In a related development, Mr. Terkper confirmed that the Government will soon be presenting a supplementary budget. This will result in the review of estimates and macro-economic targets set in the 2016.
However, the Minister of Finance insisted that this will be subject to the approval of cabinet.