Rising debt weighs down Ghana economy
from RUSSELL ADADEVOH in Accra, Ghana
ACCRA – A SPIRALLING public debt stock is hampering Ghana’s economic growth.
The debt is now pegged at a whooping Cedi 65,7 billion.
The soaring public debt rose by 2 percent from 55,4 percent in June to 57,3 percent in August, which translates to an increase of GHC 65,7 billion from GHC 63,.6 billion, a development the central bank says is worrisome.
Although the government managed to cut expenditure, the soaring public debt remained the main challenge as the West Africa’s second largest economy battles to control debt in order to accelerate economic growth.
According to BoG, the debt stock level increased by GHC 13,8 billion during first eight months of 2014.
– CAJ News
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