- The Trades Union Congress (TUC) has called on the government to inject GHC18 billion into various sectors of the economy
- According to the TUC, the money is needed to lessen the economic impact of COVID-19 and bring the economy back on track
- The International Labour Organization (ILO) has reportedlt predicted that 25 million jobs are threatened by the COVID-19
Our Manifesto: This is what YEN.com.gh believes in
The Trades Union Congress (TUC) of Ghana has called on the government to inject GHC18 billion into various sectors of the economy between now and December 2020.
The move, the TUC said, would help reduce the burden of unemployment resulting from the impact of COVID-19.
According to the TUC, a recent survey has revealed that the outbreak of the coronavirus has led to devastating effects on jobs and livelihoods in both formal and informal sectors.
READ ALSO: COVID-19: Government to support Ghanaian industries with GHC3 billion
Per a report by citibusinessnews.com, the Director of Labour Research and Policy Institute at the TUC, Dr. Kwabena Nyarko Otoo, explained that the government needs to do more to bring the economy back on track.
He added that there is an urgent need to manage the impact of possible job losses in both sectors.
Dr. Otoo went on to say that taking into consideration the fact that the Finance Minister, Ken Ofori-Atta, has estimated Ghana’s Gross Domestic Product (GDP) growth rate would fall from 6% to 1.5%, it has become urgent to find resources that would help the economy bounce back.
YEN.com.gh understands that the International Labour Organization (ILO) has predicted that 25 million jobs are threatened by the pandemic.
In an earlier report by YEN.com.gh the government announced a GHC600 million package for small and medium scale enterprises.
The fund is packaged as a soft loan designed to help Ghanaian businesses bounce back after being hit hard by COVID-19.
As part of a nationwide address on Sunday, April 5, 2020,President Akufo-Addo explained that the plan is to ensure that Ghanaian businesses are still functioning even though industries are affected by the pandemic.
READ ALSO: Government announces recovery plan for economy; set to boost productive sectors
Read the best news on Ghana #1 news app. Install our latest app for Android and read the best news about Ghana
Ghanaians share their thoughts on the mandatory wearing of face mask | #Yencomgh
Want to be featured on YEN.com.gh? Send us a message on our Facebook page or on Instagram with your stories, photos or videos