President Akufo-Addo says government’s plans and policies for 2020 will have to be amended following its projections being ‘thrown out of the window’ by the Covid-19 pandemic.
At a press briefing Wednesday at the Jubilee House, he stated that, “it is important that everyone in the country knows that the government is one of the biggest if not the hardest hit by this pandemic.
"We have huge parts of revenues that have gone out of the window as a result of this pandemic.”
He cited the reduction in the price of a barrel of crude oil which has fallen from $65 per barrel to $21 dollars per barrel now.
According to him, such a drastic hit has affected the country’s revenues, and as such it was important to restructure fiscal policies for the year to fill the “big hole” that has been created.
The Finance Minister Ken Ofori-Atta had earlier projected that the anti-Covid-19 campaign is going to cost the country ¢9.505 billion, representing 2.5% of Ghana’s revised GDP.
Latest Stories
-
Confront the barriers to your progress – Professor Lydia Aziato challenges the youth
6 mins -
Expertise France leads EU-funded initiative empowering African Journalists to combat human trafficking
16 mins -
Ghana Grows Programme empowers Ghanaian youth through Youth Policy Dialogue
23 mins -
Eastern NDC raises GHS5.4m to support Mahama’s 2024 campaign
39 mins -
Kumawood actress Akyere Bruwaa condemns death rumours
46 mins -
Ghana Institution of Engineering calls for proactive measures to prevent flood disaster
48 mins -
Who pays for the extra cost? – COCOBOD CEO questions EU on new regulations
54 mins -
‘Dumsor’ will be over by end of May – Former NPP MP assures
1 hour -
Power crisis is not about money – NPP Manifesto Committe chair
1 hour -
Education Minister urges graduates to embrace opportunities
1 hour -
UN rights chief ‘horrified’ by mass grave reports at Gaza hospitals
2 hours -
We need more resources to deal with flooding – NADMO
2 hours -
We’ll not contest in Ejisu by-election – CPP tells EC
2 hours -
Thomas Partey makes first start in 2024 as Arsenal hit Chelsea for 5
3 hours -
Fatawu Issahaku scores hattrick as Leicester thrash Southampton
4 hours