Ghana has achieved a major fiscal milestone, cutting the share of national revenue spent on debt servicing from over 50 percent in previous years to less than 20 percent today.
Announcing the progress, Finance Minister Cassiel Ato Forson said the reduction marks a turning point in the country’s economic management, freeing up resources for critical investments in education, healthcare, infrastructure, and social programmes.
“I am proud to say that we have made significant progress. We now spend less than 20 percent of our revenue on servicing debt,” Dr. Forson declared.
Implications of the Achievement
- More funds for schools: Greater allocation to education and training.
- Improved healthcare investment: Resources redirected to hospitals and medical services.
- Infrastructure development: Roads, bridges, and essential facilities receive stronger support.
- Social programmes: Expanded funding for vulnerable communities.
The minister noted that the fiscal turnaround reflects government’s debt restructuring efforts, prudent financial management, and reforms aimed at restoring macroeconomic stability.
This achievement is expected to boost investor confidence and strengthen Ghana’s capacity to pursue sustainable growth while reducing reliance on external borrowing.
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