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Post COVID-19: Cabinet approves blueprint for economic recovery programme

Post COVID-19: Cabinet approves blueprint for economic recovery programme

Post COVID-19: Cabinet approves blueprint for economic recovery programme

Cabinet has approved a blueprint expected to put Ghana’s economy back on track in the post-pandemic era.

The blueprint, dubbed: “the Post COVID-19 Economic Recovery Programme”, will among other things help the government to pursue policies and programmes that will build a robust economy and create more jobs.

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Briefing the media after a three-day programme in Accra on Monday, Information Minister, Kojo Oppong Nkrumah, explained that the blueprint would also 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 5per cent [has not materialised], 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,” he said.

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

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

Meanwhile, Mr Oppong Nkrumah expressed government’s commitment in widening the tax net and increasing existing taxes to internally mobilise resources to fund the post-covid economic recovery programme.

Source: www.spotonnews.net

Written by Joyceline Natally Cudjoe

An Entertainment Columnist, Content Writer, Blogger, Novelist, Poet, and a Publicist. For business or story tip off, contact me on +233 24 646 6866 or email: spotonnews.net@gmail.com