Ghana Cuts Debt‑Service Burden to Under 20% of Revenue

Finance Minister Dr Cassiel Ato Forson says Ghana has significantly reduced the share of national revenue spent on servicing public debt.

He noted that the country previously devoted more than 50% of its revenue to debt servicing, a situation that left little fiscal space for critical investments in education, health, roads and other essential sectors.

According to Dr Ato Forson, the situation has now improved, with Ghana spending less than 20% of its revenue on debt servicing.

In a Facebook post on Saturday, August 22, the Finance Minister said the reduction would allow government to channel more resources into priority infrastructure and public services.

“In the past, Ghana spent over 50 percent of its national revenue on servicing debt. This left less money for schools, hospitals, roads and other essential infrastructure,” he wrote.

“Today, I am proud to say that we have made significant progress. We now spend less than 20 percent of our revenue on servicing debt!”

The Minister’s comments come as government continues to highlight improvements in Ghana’s fiscal position and efforts to restore debt sustainability.

The reduced debt‑service burden is expected to give government greater room to finance development programmes while maintaining fiscal discipline.

— CitiNewsRoom