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Business News of Thursday, 23 July 2020


Mid-year budget: We’re not daunted by coronavirus impact – Ofori-Atta

Finance Minister, Mr Ken Ofori-Atta Finance Minister, Mr Ken Ofori-Atta

The Finance Minister, Ken Ofori-Atta has stated that despite the significant negative impact the COVID-19 pandemic has had on Ghana’s economy, the government is not daunted and will continue with its development agenda.

“COVID19 pandemic is far more than a crisis and Ghana’s economy hasn’t been spared. We must not and will not be daunted by this crisis. Government will continue to do what it has to do and that’s supporting lives and livelihoods of Ghanaians and we are up to the task,” the Finance Minister said Thursday when he presented the mid-year budget review to Parliament.

The Finance Minister added “the predicted, long lasting effects of this pandemic suggests that 2020 and beyond will be difficult. Ghana will therefore need a courageous and competent government. We have proved, over time, that we are better managers of the economy.

“Let us be in no doubt that Africa is facing its first depression for 25 years, sadly after two decades of stable growth.”

Ghana total positive cases of COVID-19 has hit 29,672. The recoveries currently stand at 26,090 with 3,429 active cases and 153 deaths, the Ghana Health Service has announced.

Addressing Parliament, Mr Ofori-Atta added that the government has paid GH5bn of the debt the NPP government “inherited and are managing the economy in a more responsible manner.”