Minister of Finance to present COVID-19 Recovery Program before Parl
The Minister for Finance has been tasked to put together a program to help the economy recover from the coronavirus outbreak, Information Minister Kojo Oppong Nkrumah has disclosed.
Addressing a press briefing today May 12, 2020, the Minister said priority would be given to health, also roads, education, food and agriculture, security, social protection, and industrial growth.
The directive he said was given at the cabinet retreat which was chaired by President Akufo-Addo.
Mr. Oppong Nkrumah explained it has become obvious that this year’s deficit will exceed the 5% of GDP we had anticipated.
He said the Finance Minister has also been tasked to ensure that the macro-fiscal slippage is reduced to the barest minimum adding, the slippage is as a result of the mass cuts in national revenues due to the global economic slowdown and reduction in trade.
He said the Minister will submit the recovery program to parliament after prior approval of cabinet.
The program is to outline how fiscal function can assist specific sectors of the economy to achieve a rebound.
By: Rashid Obodai Provencal