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Business News of Thursday, 7 May 2020

Source: Laud Business

Govt starts 3-day assessment of COVID-19 impact on the economy

The Minister of Information, Kojo Oppong Nkrumah has announced on Thursday at a press briefing in Accra the government will today, Thursday, 7 May 2020, begin a three-day retreat to examine data gathered on the impact of the novel coronavirus on all sectors of the economy and proffer measures to return the economy back to its previous state,

Mr Nkrumah said the President has directed all ministers to examine the impact of the virus on their respective sectors and provide recommendations on how to bring these sectors back on track.

“The President has instructed all ministers to report on the impact on their sectors and proffer recommendations for recovery at the 3-day retreat”, he said.

The minister said the cabinet will then commence a process of examining data so far gathered on the impact of the COVID-19 across the governance sectors in the country and have a better understanding of its impact on all sectors of the economy.

“In addition, the retreat will give the government the opportunity to put together information for the 2020 mid-year budget review”, he added.

The government has earmarked GHS600million stimulus package to assist small and medium scale enterprises (SMEs) in the wake of the COVID-19.

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