Finance Minister Dr. Cassiel Ato Forson has announced a significant reduction in Ghana’s debt-to-GDP ratio for 2024.
Presenting the 2025 Budget Statement in Parliament on Tuesday, March 11, he highlighted the progress made in managing the country’s debt burden.
Dr. Forson attributed the sharp decline to deliberate fiscal policies implemented by the government.
“The debt-to-GDP ratio reduced drastically in 2024, reflecting our commitment to restoring macroeconomic stability and ensuring a sustainable debt trajectory,” he said.
He noted that Ghana’s economic performance had exceeded expectations despite global financial challenges.
The Minister credited the reduction to prudent debt management strategies, including restructuring initiatives and controlled government borrowing.
He assured Parliament that Ghana was on track to achieving its debt sustainability targets ahead of schedule.
“Our approach to fiscal discipline and strategic economic planning has yielded positive results, positioning Ghana for long-term financial stability,” he added.
Dr. Forson reaffirmed the government’s commitment to maintaining this momentum, ensuring that future borrowing aligns with economic growth and revenue generation capacity.
He emphasized that ongoing reforms in public finance management would further strengthen Ghana’s economic resilience while creating a favourable environment for investment and development.
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