Ghana’s public debt stock has climbed to GH¢759.3 billion, equivalent to 47.5 per cent of the country’s Gross Domestic Product (GDP), Finance Minister Dr Cassiel Ato Forson has disclosed.
The provisional figure, which represents the country’s debt position as of the end of October 2026, was announced during the presentation of the 2027 Budget Statement and Economic Policy to Parliament on Thursday, November 12.
According to the Finance Minister, domestic debt currently accounts for 56.4 per cent of Ghana’s total public debt, while external debt makes up the remaining 43.6 per cent.
Ato Forson explained that the government is pursuing a debt management strategy focused on reducing the country’s dependence on external borrowing to limit the impact of exchange rate fluctuations on the overall debt stock.
The Finance Minister also noted that reducing external debt exposure would help minimise the vulnerability of Ghana’s debt position to currency depreciation and other external economic pressures.
“Provisional public debt stood at GH¢759.3 billion at end-October. The provisional debt-to-GDP ratio stood at 47.5 per cent as at October 2026.
“Mr Speaker, 56.4 per cent of our debt is now domestic, with the remaining 43.6 per cent owed externally. Mr Speaker, our strategy is to reduce our external debt exposure, so that movements in the exchange rate do less damage to our total debt,” he told Parliament.
Also, Ato Forson has disclosed that the government is projecting total expenditure of GH¢389.2 billion for the 2027 financial year.
He disclosed that the projected expenditure represents 21.6% of Gross Domestic Product (GDP).
Total revenue and grants are expected to reach GH¢323.4 billion, equivalent to 17.9% of GDP, leaving an overall cash deficit of GH¢65.8 billion, or 3.6% of GDP.
He highlighted that the expenditure framework reflects the government’s intention to shift spending towards productive investments, with direct capital expenditure projected at GH¢100.4 billion, representing 5.6% of GDP.
Meanwhile, Members of the New Patriotic Party (NPP) Minority in Parliament interrupted proceedings following the presentation of the 2027 Budget Statement and Economic Policy on November 12, 2026.
The minority were captured chanting “Cocaine!” and “Cocaine economy!” in protest against what they described as the government’s failure to tackle drug trafficking in Ghana.
The NPP MPs rose from their seats and began chanting the slogans shortly after Finance Minister Dr Cassiel Ato Forson concluded his presentation of the 2027 Budget.
During the protest, several members of the caucus held placards bearing messages critical of the government, accusing it of failing to protect the country’s borders against drug trafficking.
Some of the inscriptions included “Scam Government,” “Paper Economy vs Pocket Economy,” “Frakadam Aban,” and “Ato, how much has Ghana made from cocaine?”
The placards appeared to question the government’s handling of recent cocaine seizures linked to Ghana, with particular attention drawn to the country’s alleged earnings, if any, from the intercepted shipments.
The demonstration comes amid growing political controversy over recent cocaine seizures involving shipments linked to Ghana, particularly the interception of 2.6 tonnes of the substance by Spanish authorities at the Port of Valencia.
The NPP Minority sought to turn the spotlight on the drug trafficking controversy, using the high-profile Budget presentation to register its concerns.
Minority MPs in Parliament chant “Wo de cocaine abao, cocaine abao, 24-hour economy” during the Finance Minister’s presentation of the 2027 Budget Statement. https://t.co/d0CokLomhR
— GHnow (@ghnow_) November 12, 2026
