GHDatafie blog

Ghana's public sector debt at 46.55 percent of GDP in July 2026

GHDatafie, 22 October 2026

Ghana's public sector debt was 46.55 percent of GDP in July 2026, according to the Ministry of Finance (MoF). GHDatafie calculated that the ratio was 0.90 percentage points higher than in June 2026 and 1.22 percentage points higher than in July 2025. The figure is provisional.

Ghana's public sector debt was 46.55 percent of GDP in July 2026, according to the Ministry of Finance (MoF). The figure is provisional. MoF published it on 14 September 2026, in the same release as its figures for January to June 2026.

What the debt ratio measures

The debt ratio compares everything the public sector owes with the size of the economy. GDP (gross domestic product) is the value of all the goods and services produced in Ghana in a year. MoF works out the ratio itself: it divides total public sector debt by its own GDP figure for the year. A higher ratio means the debt is larger compared with the economy, and a lower one means it is smaller.

How July compares

The debt ratio rose by 0.90 percentage points from June 2026, when MoF put it at 45.65 percent, GHDatafie calculated. A percentage point is the plain gap between two percentages, so a move from 45.65 to 46.55 percent is a rise of 0.90 percentage points.

Against a year earlier the ratio is also higher. In July 2025 it was 45.33 percent, which makes the July 2026 figure 1.22 percentage points higher, according to GHDatafie's calculation. You can see both comparisons on the chart above.

Through 2026 the debt ratio has risen in most months. It began the year at 42.14 percent in January, the lowest figure shown, and moved up from there, with a small fall in June. The figures shown for 2023 and 2024 were higher than any in 2026, as the chart above shows.

Comparing across a year end

MoF divides the debt by its GDP figure for each year. A January figure is therefore measured against a different GDP figure from the December before it. On the chart, the ratio drops at the start of each year shown. When you compare months in different years, keep in mind that the yardstick has changed. Comparisons within the same year use the same GDP figure.

Provisional figures

Every value shown is marked provisional by MoF, including the July 2026 figure. MoF may restate figures in later files, and GHDatafie keeps those restatements as revisions. All figures here are as published and may be revised.

The series begins in January 2023. For every monthly value and its publication date, see the public sector debt to GDP page, and for other new figures see recent releases.

Where the figures come from

The figures come from the Ministry of Finance, Ghana (mofep.gov.gh), from its public debt data workbooks, where MoF shows the ratio as total public debt divided by GDP. GHDatafie compiles them as published. GHDatafie is independent of MoF and is not endorsed by it. Full series: Public sector debt to GDP.

Questions people ask

What is Ghana's public debt to GDP ratio?

Ghana's public sector debt was 46.55 percent of GDP in July 2026, according to the Ministry of Finance. The figure is provisional and may be revised.

Has Ghana's debt to GDP ratio gone up or down?

It went up in July 2026. GHDatafie calculated that the ratio was 0.90 percentage points higher than in June 2026 (45.65 percent) and 1.22 percentage points higher than in July 2025 (45.33 percent), based on Ministry of Finance figures.

Who publishes Ghana's public debt to GDP figures?

The Ministry of Finance, Ghana publishes them in its public debt data workbooks on mofep.gov.gh. It calculates the ratio using its own GDP figure for each year.

What does provisional mean for the debt figures?

Provisional means the Ministry of Finance has marked the figure as not yet final. It may restate it in a later file, and GHDatafie keeps any restatement as a revision.

Where can I see the full monthly debt to GDP series?

The public sector debt to GDP page on GHDatafie shows every monthly value from January 2023, with the date each was published by the Ministry of Finance.

Figures in this article

• Public sector debt to GDP: Source: Ministry of Finance (MoF), Ghana, mofep.gov.gh. Figures as published by MoF; compiled by GHDatafie, which is independent of and not endorsed by MoF.

Changes and everyday examples are calculated by GHDatafie from the published figures. GHDatafie is independent and is not part of, or endorsed by, the publishers it quotes.