• About
  • Contcat Us
  • Privacy Policy
Sunday, July 3, 2022
Primenews.com.gh
No Result
View All Result
  • HomePage
  • Ghana News
  • Politics
  • Entertainment
  • Sports
  • HomePage
  • Ghana News
  • Politics
  • Entertainment
  • Sports
No Result
View All Result
Primenews.com.gh Logo
No Result
View All Result
Home general news

People don’t appreciate the effects of COVID-19 on the economy – Afenyo-Markin

by Mutala Yakubu
2020-05-16
in general news
Alexander Kwamina Afenyo-Markin

Alexander Kwamina Afenyo-Markin

7
SHARES
26
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Member of the Parliament for the Effutu constituency in the Central Region, Alexander Kwamina Afenyo-Markin says Ghana is facing a huge challenge with COVID-19 because people do not appreciate its effects on Ghana’s economy.

Mr Afenyo-Markin says we are in for a real fight but people do not take the situation at hand serious.

He said we need to all appreciate the situation at hand and that is the only way we can successfully come out on top.

READ ALSO

NPP Elections: Prof Kalmonia re-elected as Savannah chairman

High price volatility makes crypto assets unattractive as a means of payment – BoG

“On the issue of easing restrictions, I think a lot will depend on us. People don’t seem to appreciate the whole issue of the pandemic and how it is affecting our economy. We need to accept this collective decision and comply”

“We need to adhere to all the preventive measures to minimize community spread. We need to be disciplined,” he said on Joy FM’s Newsfile.

The Coronavirus (COVID-19) pandemic is expected to have a significant adverse impact on the global economy.

Governments around the world are implementing various fiscal measures to mitigate the adverse effect and provide relief for businesses and households.

Finance Minister Ken Ofori-Atta has admitted that it was impossible for the government to have continued the partial lockdown imposed on Accra, Tema, Kasoa and Kumasi beyond the three weeks announced by President Akufo -Addo.

According to him, the Ghanaian economy, which is largely informal, could not sustain that decision beyond the three-weeks.

“When you look at what happened during the lockdown. It was quite clear after a point that given the 90% of our population is informal and they go out each day to earn wages, it became increasingly impossible to continue with such a policy,” he said.

ADVERTISEMENT

The Coronavirus (COVID-19) pandemic has had a significant adverse impact on the global economy.

In Ghana, though the government is implementing various fiscal and monetary measures to mitigate the adverse effect and provide relief for businesses and households, the outbreak has brought three years of economic growth of 6% or more to a sudden halt, with the Ministry of Finance anticipating that growth could slow to 1.5%, the least in 37 years.

Already, President Akufo-Addo has stated that the effect of the COVID-19 pandemic could affect Ghana’s growth rate from 7 percent on average to 2.5 percent if the situation persists until the end of 2020.

The Finance Minister, also stated that Ghana will record a significant drop in revenue target for 2020 due to the COVID-19 pandemic because the country is recording a huge decline in revenue from the port, petroleum revenue receipts as well as tax revenue.

He, however, indicated that the cumulative effect of the novel coronavirus pandemic will cost Ghana GHS9.505 billion.

COVID-19 cases in Ghana has risen to 5,638 with 1,460 recoveries.

Tags: Afenyo-MarkinCovid-19Ken Ofori-Atta,
Share7TweetSend
Previous Post

GES charges NAGRAT to contribute strategies to ensure safety of students when schools re-open

Next Post

Kobe Bryant helicopter crash post-mortem finally released

Related Posts

NPP Elections: Prof Kalmonia re-elected as Savannah chairman
general news

NPP Elections: Prof Kalmonia re-elected as Savannah chairman

2022-05-28
Russia-Ukraine conflict presents further risk to recovery – BoG Governor
general news

High price volatility makes crypto assets unattractive as a means of payment – BoG

2022-05-28
Kwame Jantuah wants Independent Commission to probe Sir John’s will, not OSP
general news

Kwame Jantuah wants Independent Commission to probe Sir John’s will, not OSP

2022-05-28
The debt challenges are compounding for us in Africa – Akufo-Addo
general news

The debt challenges are compounding for us in Africa – Akufo-Addo

2022-05-28
COCOBOD closes purchases for 2021/2022 main crop cocoa season
general news

COCOBOD closes purchases for 2021/2022 main crop cocoa season

2022-05-28
2 killed in robbery at gold shop at Asamang Tamfoe
general news

2 killed in robbery at gold shop at Asamang Tamfoe

2022-05-28
Next Post
Kobe Bryant and his daughter, Gianna, were among nine who died in the crash

Kobe Bryant helicopter crash post-mortem finally released

Parts of Ashanti Region to experience interruption in water supply – GWCL announces

Parts of Ashanti Region to experience interruption in water supply - GWCL announces

ADVERTISEMENT

TRENDING NEWS IN GHANA

Iga Swiatek

Iga Swiatek beats Coco Gauff for second French Open title

2022-06-04
Shakira and footballer Gerard Piqué announce split after 12 years

Gerard Pique and Shakira announce split after 12 years

2022-06-04
Ibrahim Danlad

Kotoko shot-stopper Ibrahim Danlad receives Black Stars call up for four-nation tournament

2022-06-04
Felix Afena-Gyan

Photos: Black Stars arrive in camp ahead of AFCON 2023 qualifiers

2022-05-28
Alfred Duncan

Alfred Duncan retires from Black Stars at age of 29

2022-05-28
NPP Elections: Prof Kalmonia re-elected as Savannah chairman

NPP Elections: Prof Kalmonia re-elected as Savannah chairman

2022-05-28
Russia-Ukraine conflict presents further risk to recovery – BoG Governor

High price volatility makes crypto assets unattractive as a means of payment – BoG

2022-05-28
Kwame Jantuah wants Independent Commission to probe Sir John’s will, not OSP

Kwame Jantuah wants Independent Commission to probe Sir John’s will, not OSP

2022-05-28
The debt challenges are compounding for us in Africa – Akufo-Addo

The debt challenges are compounding for us in Africa – Akufo-Addo

2022-05-28
COCOBOD closes purchases for 2021/2022 main crop cocoa season

COCOBOD closes purchases for 2021/2022 main crop cocoa season

2022-05-28
ADVERTISEMENT

Must Reads

High price volatility makes crypto assets unattractive as a means of payment – BoG

Kwame Jantuah wants Independent Commission to probe Sir John’s will, not OSP

The debt challenges are compounding for us in Africa – Akufo-Addo

COCOBOD closes purchases for 2021/2022 main crop cocoa season

2 killed in robbery at gold shop at Asamang Tamfoe

Malawi slashes the value of its currency

About

A Prime Network Limited Website.

Follow us

No Result
View All Result
  • HomePage
  • Ghana News
  • Politics
  • Entertainment
  • Sports

©2015 - 2020 Primenews.com.gh

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.