Public Debt: A catalyst for economic development or recipe for economic disaster?

**Public Debt in Ghana: A Double-Edged Sword**

Public debt can be beneficial or harmful. When managed well, it supports economic growth. It funds infrastructure and social programs. However, excessive debt can drain government resources. High-interest payments limit funding for development.

Ghana's public debt has sparked intense debate. Is it driving growth or threatening stability?

**Historical Context of Ghana's Public Debt**

Since independence, Ghana has faced significant public debt challenges. Persistent budget deficits have led to extensive borrowing. In 2017, projected revenue was GH¢44.9 billion, while expenditure was GH¢58.1 billion. This resulted in a fiscal deficit of 6.5% of GDP.

In 2018, the overall cash deficit was GH¢