The country's public debt hit 46.1 billion Ghana cedis as at the end of September this year.
This is about 54 percent of the total value of the economy which many describe as unsustainable because it is inching closer the critical 60 percent mark.
The figure which was put out by the central bank last week also showed that government has in one month added 2.2 billion Ghana cedis to the public debt.
The total public sector debt was made up of a domestic debt stock of 24.9 billion Ghana cedis up from 18.5 billion in December 2012 and external debt stock of 10.8 billion dollars up from 8.8 billion as at the end of December.
But answering questions from Journalists after a meeting to review the health of the economy, Governor Dr. Kofi Wampah said the public debt has not gotten to levels that should rise any concern.
"Studies have shown that, even for Ghana, we will still be sustainable depending on what the debt is used for", he noted.
He said a loan like the China Development Bank (CDB) loan, which would be used to expand the country's gas infrastructure, is one that can yield positive results for the country's economy..
Mr Wampah also indicated that the 2014 budget has policies that will address the country's debt situation, expressing optimism in the economy in 2014.
Figures from the Bank of Ghana has also shown that the government as at the end of September this year spent almost GHC8 billion more than revenue collected for 2013.
Meanwhile the governor of the Bank of Ghana is optimistic the proposed review to the Foreign Exchange Act would help bring sanity to the currency market.
The regulator believes this would help with the application and enforcement of the law in the country .
In addition to this, the Bank of Ghana is planning to introduce a new set of foreign exchange regulations and code of conduct to guide operations of in the foreign exchange market.
The Bank of Ghana is putting rate of the Ghana cedi's depreciation at 9 percent contrary to reports by some banks that the local's depreciation has hit almost 17 percent.
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