President Akufo-Addo says plans are still in place towards restoring the country’s economy.
In his recent address to the country on updates of Covid-19 management, the President said his government is still in talks with stakeholders on how to recover the country’s economy.
“This weekend, I chaired a three-day cabinet retreat, at Peduase Lodge, to examine in detail measures aimed at reviving and strengthening our economy.
“I am happy to reiterate that Government is putting in place a resilience and recovery plan, with the overarching aim of finding more resources to strengthen the productive sectors of the economy to ensure sustained economic activity,” he said.
The outbreak of the coronavirus pandemic has impacted negatively on economies across the world as governments put measures in place to control it.
These measures, which include the closure of borders, a ban on social gathering, and the lockdown of certain states and cities have all had negative impacts on the economy.
But President Akufo-Addo is assured of a turn around.
The President who earlier promised a GH¢600 million soft loan scheme for Small and Medium Scale businesses in the country, says the scheme has since been implemented.
“We are rolling out a soft loan scheme of six hundred million cedis (GH¢600 million), in this month of May, to support micro, small and medium scale businesses, and, as you know, the commercial banks, with the support of the Bank of Ghana, have also instituted a three billion cedi (GH¢3 billion) credit and stimulus package, to help revitalise industries, especially in the pharmaceutical, hospitality, services, and manufacturing sectors,” he said.
He also indicated that the Finance Minister, Mr. Ken Ofori Atta is working to find additional resources to supplement the already acquired fund needed to facilitate the process.
“The Minister for Finance is working tirelessly to find additional resources to supplement these amounts, including the resources to finance the construction of eighty-eight (88) district hospitals, ‘Agenda 88’, and seven (7) regional hospitals, which he will announce at the appropriate time to Parliament and the nation.”