SONA 2022: GHS 17.7bn used in containing Covid pandemic – Prez Akufo-Addo
Some GHS 17.7bn have so far been used in the fight against the Covid pandemic since its outbreak in the country in March 2020.
The GHS 17.7bn used in mitigating the adverse impacts of the pandemic on the economy translates into 4.6% of Gross Domestic Product (GDP).
This assertion was made by the President of the Republic, Nana Addo Dankwa Akufo-Addo during his presentation of the 2022 State of the Nation Address (SONA) on Wednesday, March 30, 2022.
“Data from the Ministry of Finance tells us that an amount of GH¢17.7 billion (or 4.6% of GDP) has been spent in containing the pandemic since 2020,” said the President.
Adding that the country’s economic woes have been further exacerbated by the Russian invasion of Ukraine.
“The economic devastation of COVID has, since the beginning of this year, been further aggravated by the Russian invasion of Ukraine, which has worsened the economic outlook of the entire world. We, in Ghana, have not escaped this development, and the consequences are being felt in rising living costs at our markets and at fuel stations,” he added.
The pandemic, according to official sources created a fiscal deficit gap of GHS 25bn.
loans contracted to fight the pandemic have contributed to the country’s debt-to-GDP reaching 80.1%.
