Mr. Ken Ofori Atta, the Finance Minister has said programmed Foreign Direct Investment (FDI) flows in 2020 have slowed down due to uncertainties surrounding the effect of the COVID-19.
He said Foreign investors are not able to arrive into the country to transact or even undertake feasibility studies as a result of the closure of most borders of countries including Ghana’s and, in many cases, restrictions imposed in their own countries of origin.
Mr. Ken Ofori Atta said this on the floor of Parliament when he briefed them on the impact of deadly disease COVID-19 on Ghana’s Economy and measures put in place by the Government to fight the Pandemic.
On Impact on GDP Growth, the Minister said every single person in this country must exercise the highest level of self-discipline is clear in the economic numbers.
He said the greater the level of self-discipline and civic responsibility must maintain in observing the enhanced protocols in hygiene and social distancing, the greater chances we have in avoiding mass job losses and its concomitant hardships.
The Minister said Already, Ghana is experiencing a slowdown in economic activities in the various sectors of the economy, as a result of the coronavirus pandemic.
“This will altogether slow down economic growth, considerably. Even though events on the coronavirus pandemic are still unfolding, a preliminary analysis of the impact of the Coronavirus menace on the real sector shows that the 2020 projected real GDP growth rate could decline from 6.8% to 2.6% with an outbreak and 1.5% with a partial lock-down Mr. Speaker, the projected growth will further worsen in the event of full lock-down.”
Source: Mybrytfmonline/Kofi Atakora
