Finance Minister, Ken Ofori-Atta has hinted that government might present a new budget for 2020 in July to curtail the shortfalls from the novel Coronavirus pandemic in Ghana.
According to the minister, the pandemic if not contained may move the country’s 2020 budget deficit to over 7 percent.
Speaking in an interview with Citi News, Ken Ofori Atta indicated that with the 2020 budget being out of gear due to the Coronavirus outbreak, there’s a need to reassess government’s expenditure and realign events to meets its revenue targets.
“So fortunately, I think we’re beginning to build a consensus as to how to manage these revenue targets and shortfalls. We’re just going to have to relook at all the fundamental assumptions of the budget and I did signal to parliament that come July, we should come with a lot more information and analysis towards a new budget,” he revealed.
“We have to assess what is the new normal and how we address the pain that invariably is going to occur,” he added.
Meanwhile, Ken Ofori-Atta in his briefing in Parliament yesterday, March 30 on the effects of the global health crisis on Ghana’s economy stated that government has been able to secure the US$100million as part of funds to aid the fight against the novel coronavirus.