Ghana’s economy is projected to rebound strongly by 5.7 per cent in 2021.
This, is according to the Minister of Finance, Ken Ofori-Atta.
The economic rebound the Minister asserts, will be driven mainly by the implementation of the Ghana Coronavirus Alleviation and Revitalisation of Enterprises Support programme (Ghana CARES).
Other factors to influence the strong rebound in 2021, is a more rationalised public expenditure programme and improved revenue from anticipated rise in economic activities.
“We are going to rebound strongly in 2021 at 5.7 per cent as a result of the implementation of Ghana CARES and in addition we have scaled down the projected fiscal deficit of 2021 from 9.6 per cent of GDP to 8.3 per cent of GDP with improved revenue from the anticipated pick up in economic activity and a more rationalised public expenditure programme,” the Minister stated.
“I want to assure this House that we will recover, revitalise and transform the economy. We are also certain that the cleanup and revitalised financial sector will support our recovery efforts and sustained growth,” he added.
Finance Minister Ken Ofori-Atta made the above statements in his presentation of the Expenditure in Advance of Appropriation Budget for the first 3 months of 2021 to Parliament on Wednesday, October 28.
The Minister in his budget presentation, aside requesting Parliamentary approval for some Ghs 27.4 billion to spent by Government for the first quarter of 2021, also requested approval for the issuance of a $3 billion Sovereign Bond with the option to increase it to $5 billion should market conditions prove favourable.
