The Minister of Finance, Dr Cassiel Ato Forson, has revealed that Ghana's public debt fell significantly in 2025, marking one of the sharpest declines in recent history.

Delivering the 2026 Budget Statement and Economic Policy in Parliament on Thursday, November 13, 2025, Dr Ato Forson noted that total public debt dropped from GH¢726.7 billion—representing 61.8 percent of GDP in 2024—to GH¢630.2 billion, equivalent to 45 percent 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.

He attributed this turnaround to fiscal discipline, prudent borrowing and the appreciation of the cedi against the US dollar.

He emphasised that these factors have placed Ghana’s public debt on a firm downward trajectory.

Government sets ambitious fiscal targets for 2026

Meanwhile, the government has announced a primary surplus target of 1.5 percent of GDP for 2026.

According to the finance minister, the overall fiscal deficit is projected at 2.2 percent of GDP on a commitment basis and 4 percent on a cash basis.

SP/AM

Watch Dr Ato Forson deliver the 2026 budget in Parliament:



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