Govt has commenced a three day economic retreat which will focus on rebounding the nation’s economy in the aftermath of the dreaded corona virus disease, Covid-19.
The Minister of Information, Kojo Oppong Nkrumah revealed this on Thursday at a press briefing in Accra.
He explained that the three-day retreat will examine data gathered on the impact of the novel coronavirus on all sectors of the economy and proffer measures to return the economy back to its previous state.
Kojo Oppong Nkrumah said the President has directed all ministers to examine the impact of the virus on their respective sectors and provide recommendations on how to bring these sectors back on track.
“The President has instructed all ministers to report on the impact on their sectors and proffer recommendations for recovery at the 3-day retreat….”, he said.
The Minister said the cabinet will then commence a process of examining data so far gathered on the impact of the COVID-19 across the governance sectors in the country and have a better understanding of its impact on all sectors of the economy.
“In addition, the retreat will give the government the opportunity to put together information for the 2020 mid-year budget review”, he added.
The government has earmarked GHS600million stimulus package to assist small and medium scale enterprises (SMEs) in the wake of the COVID-19.
Just a few days ago, the President outlined a GHC3 billion package for the hardest hit sectors of the economy, when he met leaders of the hospitality and tourism sectors at the Jubilee House.
The package according to the president will be put together by the local commercial banks in the country.
Furthermore, he revealed that the Bank of Ghana, will also in the coming weeks facilitate larger financial assistance for distressed companies and also for industries who will lead the import substitution opportunities in the wake of the pandemic.