Covid-19: The Pandemic costs Ghana GH¢25.3 billion, said Prez Nana Addo

President Nana Addo Dankwa Akufo-Addo said the country lost more than GH¢13.5 billion in revenue in 2020 because of the economic shocks induced by the Covid-19 pandemic. He said the resultant fiscal deficit for 2020 was, thus, revised from 4.7 percent of GDP to 11.4 percent. The President said the establishment of the National Development Bank, under the Ghana CARES program, would provide support to Ghanaian businesses.

He expressed confidence that, together, “we will emerge from the COVID-19 Pandemic with a stronger and more resilient economy” The President expected Gross Domestic Product growth to rebound strongly this year to nearly five percent, above the IMF’s 2021 January projection.

Kobby Koomson
Author: Kobby Koomson


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