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COVID-19 Set to cost Ghana GHS9.505 billion- Ken Ofori -Atta

The Finance Minister, Mr. Ken Ofori-Atta said, the novel coronavirus pandemic will cost Ghana GHS9.505 billion which stands at 2.5 percent of Ghana’s revised GDP.

According to the Minister, the virus will take levy on Ghana’s GDP growth.

He indicated that the real GDP growth rate for 2020 might decline from 8 percent to 2.6 percent with an outbreak and 1.5 percent with a partial lockdown.

Mr. Ken Ofori Atta explained that “the overall fiscal deficit will increase from the programmed GHȼ18.9 billion to GHȼ30.2 billion, which will be 7.8 percent of revised GDP.”

Ghana has  also gone in for a $1 billion interest-free loan from the to cushion the economy he added.


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