Ghana's net incurrence of liabilities, total (current LCU) was 27.99 billion in 2023, the latest year in the World Bank's World Development Indicators. That is up 196.01% from 9.45 billion in 2013 (11.46% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 27.99 billion | 2023 |
| Five years earlier | 11.67 billion | 2018 |
| Ten years earlier | 9.45 billion | 2013 |
| Highest | 65.16 billion | 2022 |
| Lowest | 77.34 million | 2005 |
| Average since 2014 | 25.54 billion | 2014–2023 |
| First recorded | 194.59 million |
What the numbers say
In 2023, Ghana's net incurrence of liabilities, total (current LCU) fell 57% on 2022 (from 65.16 billion to 27.99 billion).
Across the 19 yearly changes before that (2004 to 2022), the average change was +84.3% and a typical year strayed about 221.1% from that (the standard deviation). This year's change was 0.6 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 940.1% in 2006 and the biggest yearly fall was 57% in 2023. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2014 to 2023 the straight-line trend is upward, about 4.78 billion a year. A straight line explains 57% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2023, Ghana had the 9th highest value of the 16 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Ghana in the 2023 ranking
What this measures
Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.
Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).
All 21 values
| Year | Net incurrence of liabilities, total (current LCU) |
|---|---|
| 2023 | 27,986,800,000 |
| 2022 | 65,156,302,498 |
| 2021 | 42,354,660,871 |
| 2020 | 44,897,876,598 |
| 2019 | 16,891,843,383 |
| 2018 | 11,672,748,535 |
| 2017 | 12,244,729,650 |
| 2016 | 13,922,481,179 |
| 2015 | 8,760,338,607 |
| 2014 | 11,550,615,201 |
Net incurrence of liabilities, total (current LCU) in nearby economies
- Angola — -778.29 billion (2024)
- Botswana — 8.29 billion (2023)
- Burkina Faso — 900.19 billion (2024)
- Burundi — 181.93 billion (2021)
- Cabo Verde — 16.42 billion (2020)
- Cameroon — 593.86 billion (2021)
- Central African Republic — 50.67 billion (2021)
- Congo, Dem. Rep. — 1.39 trillion (2022)
- Congo, Rep. — 119.5 billion (2021)
- Côte d'Ivoire
More public sector data for Ghana
- Military expenditure (current USD) — 506.65 million (2025)
- Military expenditure (current LCU) — 6.37 billion (2025)
- Military expenditure (% of GDP) — 0.48% (2025)
- Arms imports (SIPRI trend indicator values) — 5 million (2025)
- Military expenditure (% of general government expenditure) — 2.4% (2025)
- Armed forces personnel, total — 16,000 (2020)
- Armed forces personnel (% of total labor force) — 0.13% (2020)
- Grants and other revenue (current LCU) — 25.99 billion (2023)
- Grants and other revenue (% of revenue) — 19.11% (2023)
- Revenue, excluding grants (current LCU)
Reading data like this
Questions people ask
- What is Ghana's net incurrence of liabilities, total (current LCU)?
- 27.99 billion in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 2003?
- It is up 14,282% from 194.59 million in 2003 (28.2% a year on average, compounded). The highest value was 65.16 billion in 2022 and the lowest 77.34 million in 2005.
- How does Ghana rank?
- 9th highest of 16 economies with data for 2023.
- Is the latest change in net incurrence of liabilities, total (current LCU) unusual for Ghana?
- In 2023, Ghana's net incurrence of liabilities, total (current LCU) fell 57% on 2022 (from 65.16 billion to 27.99 billion). Across the 19 yearly changes before that (2004 to 2022), the average change was +84.3% and a typical year strayed about 221.1% from that (the standard deviation). This year's change was 0.6 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator GC.LBL.TOTL.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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