Ghana�s public debt stock increased by about 2.1 billion Ghana cedis from June to August this year. This measures about 3 percent increase in the debt level from 63.6 billion cedis to 65.7 billion cedis.
This was revealed by the Bank of Ghana yesterday. In terms of the ratio of the debt to GDP, debt rose to 57.3% at the end of August from an initial 55.4% reported at the end of June.
The debt stock level increased by about 13.8 billion Ghana cedis in the first eight months of the year, representing a 26.5% increase.
Meanwhile, government again missed its revenue target, but managed to cut down on expenditure. Revenue and grants from the beginning of the year to September hit 17.7 billion cedis against a target of 18.4 billion cedis while expenditure was at 24.4 billion cedis against a target of 25.8billion cedis.
Provisional estimates show the budget deficit from the beginning of the year to August stood at 6.9 percent of GDP against a target of 6.4 percent.
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