[ 2021-03-09 ]

Cabinet approves blueprint for post COVID-19 economic recovery programme
Cabinet, after a three-day meeting at Peduase
Lodge has approved a blueprint expected to put
Ghana’s economy back on track in the
post-pandemic era.

In the blueprint, known as the Post COVID-19
Economic Recovery Programme, the Nana Akufo-Addo
administration’s priority is to pursue policies
and programmes that will build a robust economy
and create more jobs.

Briefing the media on the development, Information
Minister, Kojo Oppong Nkrumah, said the blueprint
will among other things focus on Ghana’s fiscal
regime and macroeconomic situation.

“If our stability has been shaken because of the
need to stretch our resources to respond to
COVID-19, and if the fiscal anchor which was the
deficit that we were trying to bring down to 5%
[has not materialized], and if we are now watching
it become clear from the Bank of Ghana figures
that are coming in that our debt to GDP ratio is
getting worse because of the COVID-19 programme,
then you can bet that these two will become some
of the key parts of the post-COVID economic
recovery programme.”

The minister said the government is looking to
invest massively in the government’s flagship
programmes as well as sectors of the economy that
will stimulate the economy and ensure a quick
recovery in a way that will ensure growth and also
create more jobs.

According to Kojo Oppong Nkrumah, the cost of the
Economic Recovery Programme will be announced in
the 2021 budget expected to be presented to
parliament by the Minister for Parliamentary
Affairs, Osei Kyei Mensah Bonsu on Friday, March
12, 2021.

Meanwhile, Kojo Oppong Nkrumah says the government
is considering widening the tax net and increasing
existing taxes to internally mobilize resources
to fund the post-covid economic recovery
programme.

Source - Citinewsroom

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