COVID-19: Parliament to receive policy statement from Finance Minister Ken Ofori-Atta
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COVID-19: Parliament to receive policy statement from Finance Minister Ken Ofori-Atta

- Parliament has announced that it would receive a policy statement on the fight against the coronavirus from the minister of finance, Ken Ofori-Atta

- Ofori-Atta is expected to be present in Parliament on Wednesday, April 8, 2020, and also touch on other matters related to his ministry

- The presentation is in line with the Standing Order 70 (2) with regard to the government's plan to eradicate the coronavirus from Ghana

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On Wednesday, April 8, 2020, the minister of finance, Ken Ofori-Atta, would present a policy statement with regard to the fight against the coronavirus in Parliament.

This was announced by Professor Aaron Michael Ocquaye, the Speaker of Parliament after he recalled Members of Parliament (MPs) after the suspension of proceedings a few days ago.

According to the Director of Public Affairs of Parliament, Kate Addo, Ofori-Atta is expected to touch on other urgent businesses in Parliament related to his ministry.

READ ALSO: COVID-19: Akufo-Addo predicts economic growth could fall from 7% to 2.5%

The presentation of the statement is in line with the Standing Order 70 (2) on matters relating to government measures to curb the spread of the coronavirus disease as well as facilitate the transaction of any urgent business.

Ofori-Atta earlier announced that the cumulative effect of the outbreak could lead to a GHC9.505 billion loss to Ghana.

The revelation came after President Akufo-Addo issued a directive for an economic impact assessment of the COVID-19 pandemic on Ghana, citibusinessnews.com reports.

President Akufo-Addo also indicated that there would be a GHC1 billion Coronavirus Alleviation Programme (CAP) to be funded from the Stabilization Fund.

He also called on Parliament to amend the necessary laws to reduce the cap of the Stabilisation Fund from US$300 million to US$100 million.

It is expected that this could help the government make use of the excess funds to bridge the gap created by the economic impact of the pandemic.

There is also a request to amend the Petroleum Revenue Management Act to use portions of the Ghana Heritage Fund for the same purpose.

Meanwhile, the minister of finance, Ken Ofori-Atta, has explained the rationale behind the plan to push for a new 2020 budget.

According to him, the government is taking a second look at all the fundamental assumptions made from the 2020 budget.

He added that this would help with the drawing of a new one which reflects the reality on the ground due to the economic impact of the coronavirus.

READ ALSO: Ofori-Atta names 3 sources of funds for the fight against the coronavirus

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Source: Yen

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