“Covid-19 has Thrown Ghana’s Revenues Out of the Window” – Prez Akufo-Addo Laments

President of Ghana, Nana Akufo-Addo has expressed worry over the devastative effect of the Covid-19 pandemic on government’s revenue.

According to the president, the revenue projections for the year 2020 have been thrown out of gear following the outbreak..

Due to this, Akufo-Addo said the government’s plans and policies for the year 2020 will have to be amended.

The President made this known at the Jubilee House today [Wednesday].

“I think 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.

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“The 2020 budget which was made in November was predicated on a 65 dollar barrel oil. Today, we now know that oil is 18, 19, 20, 21 dollars a barrel so even that statistics should tell you what a big hole thas been created as a result.”

Already, Ghana’s Finance Minister, Ken Ofori-Atta has said, the fight against the pandemic will cost GHS9.505 billion.

This will be 2.5 percent of Ghana’s revised GDP.