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.