Mr Ofori-Atta demanded a supplementary budget of GH¢11.8 million in his 2020 budget review and assured that his delivery was among a series of measures taken by government to bring the economy back to life after the turbulence brought in by the coronavirus pandemic.
“This mid-year review of the budget statement and economic policy of the government of Ghana and a supplementary estimate for the 2020 financial year is the first of our economic plans to reposition Ghana and Ghanaians to deal with the challenges posed by the pandemic and seize the opportunities it brings.
“Our response to this pandemic prioritises the protection of our lives and livelihoods, sustains our business operations and sharpens our focus on Ghana’s future Beyond Aid.”
In his 14th update to the nation on his government’s fight against the pandemic, President Akufo-Addo could not hide his joy at his Finance Minister’s delivery last Thursday.
He described him as “hardworking” and “highly-patriotic”.
“Not only did he present a compelling review of the efforts put in place over the last three and half years to stabilise and grow our economy, he was also able to paint a credible picture of hope for the future, despite the ravages caused by Covid-19,” the president said, reiterating some of the incentive packages announced in the review of the ‘Nkosuo and Nkabom’ budget.
This is not the first time President Akufo-Addo is heaping praise on Mr Ofori-Atta in his national broadcasts.
In his Update Number 7, which announced the lifting of a three-week lockdown, the president did not hide his admiration for one of his dependable ministers.
Describing him again as “hardworking” and an “outstanding national treasurer”, President Akufo-Addo underscored Mr Ofori-Atta’s efforts together with that of his South African counterpart as co-Chairs of the Committee of African Finance Ministers as “leading a Pan-African effort to bring debt relief to the continent in these difficult times”.
The two had brokered a nine-month debt standstill from the World Bank for all qualifying members of the International Development Association (IDA), starting from 1st May, 2020.
The amount totalled $44 billion for the countries of Africa.
“In the case of Ghana, this amounts to a freeze in principal and interest payments for the year, amounting to some $500 million,” President Akufo-Addo stated on Sunday, April 19.
“This will create greater fiscal space to help make the Ghanaian economy much more resilient. I have charged the Finance Minister to leave no stone unturned to achieve an even greater and comprehensive debt relief programme for Africa.”
By Emmanuel Kwame Amoh|3news.com|Ghana