Every Ghanaian Owes Over ¢15K With The Current Debt Stock

Estimates made using the 2022 budget shows that , every Ghanaian owes approximately GH¢15,175.32.

Given the current public debt stated in the budget amounting to GH¢467.37 billion (US$48.87 billion), shared among the 30.8 million Ghanaian  population, amounts to a debt of GH¢15,175.32 per person.

The domestic debt component, according to the budget, is GH¢195.65 billion making a 31.79 percent of GDP while the external debt stock was at 58.1 percent of GDP with GH¢271.71 billion.


For a decade now,  the public debt has increased by about 159.67% – from US$ 18.82 billion (GH¢35.38 billion) in 2012 to US$ 48.87 billion  (GH¢467.37 billion) in 2022. 

The year 2022, has been on a downward stream with rising inflation and depreciating of the cedi.

Loss to depreciation of  the cedi amounted to added external debt stock of  of GH¢93.86 billion  There have also been vast increases in the public debt on month-on-month bases.

The diagram gives the public debt per person for the year 2022. The increase per month is associated with the increases in the public debt.

On average the public debt person increased by 32.89% from January 2022 to October 2022.

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