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Business News of Tuesday, 25 August 2020

Source: Atinka Online

Coronavirus has delayed our economy but not derailed it - Bawumia

The Vice President of Ghana, Dr Mahamudu Bawumia, has said that although the Coronavirus disease (COVID-19) has delayed Ghana’s economy, it has not derailed it.

According to him, despite the fact that COVID-19 has delayed plans for the economy, the government has already identified areas to focus on post-COVID-19, to keep the economy on track.

Dr Bawumia made the statements on Accra based Peace FM on Tuesday, August 25, 2020.

He said despite the restrictions brought by the Covid-19 pandemic, the government is trying to produce things locally in order to industrialize the country.

The growth of locally manufactured products, he said, will also support the government's effort in its initiative,’ Ghana beyond aid’.

Meanwhile, reacting to government’s alleged freebies which include free water, 50 percent of electricity, free hot meals for students, he said that the government was protecting livelihoods in critical times and not just providing freebies.

Touching on the funding of the ‘freebies’, Dr Bawumia said although Ghana has borrowed money for developmental projects, it was not using borrowed monies to fund the ‘freebies’.

He explained that despite Ghana’s economic challenges, its fundamentals are strong enough to provide such essential needs to the public in such a critical time for free.

He said because the previous government’s fundamentals were weak, they could not do such interventions for the public.

“Despite our challenges, we are in a much stronger position to weather the storm much better, that is why we have been able to give those essential needs to Ghanaians for ‘free’,” he said.

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