- Minister of Finance, Ken Ofori-Atta, has revealed that the 7 million Ghanaians earn a maximum of GHC7000 every year
- He added that 59% of Ghanaians fall within the 15 to 34 year old age group and 39% are found within the 35 to 64 year old group
- He made these remarks at the launch of the GHS600 million COVID-19 Alleviation Programme which would be administered by the NBSSI
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The Minister of Finance, Ken Ofori-Atta, has revealed that seven million Ghanaians earn GHC7000 or below every year.
He explained that 83.6% of Ghanaians do not have real savings and are therefore likely to be adversely affected by crisis such as COVID-19.
Ofori-Atta further noted that 59% of Ghanaians fall within the 15 to 34 year old age group and 39% are found within the 35 to 64 year old group.
READ ALSO: COVID-19: Ghana's economy could not withstand partial lockdown beyond 3 weeks
Per a report by classfmonline.com, he went on to say that “when you look at business establishments, we have, under the medium scale enterprises, 1.46%; the small businesses being 18.3% and the micro being 79.7%. So, it’s imperative that we intervene.”
Ofori-Atta passed these comments at the launch of the GHS600 million COVID-19 Alleviation Programme which would be administered by the National Board for Small Scale Industries (NBSSI).
He went on to say that his ministry has established a taskforce to focus on the recovery, stabilisation and revitalisation programme of the economy.
The minister revealed that they are to concentrate on industry and manufacturing to spur growth and minimise job losses, as well as to ensure that the post-COVID-19 recovery is at a faster pace.
Meanwhile, Ken Ofori-Atta has predicted a likely $300 billion increase in Africa’s Gross Domestic Product (GDP) in a year by 2025.
According to him, it could be possible if the relevant technological tools are employed.
He added that it is important for African countries to speed up policies and programmes towards leveraging on technology for economic growth.
READ ALSO: EIU reports Ghana's economy could contract by 1% in 2020
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