Outcome of the crunch cabinet retreat: Govt approves major reliefs …for economic recovery

President Akufo-Addo has sanctioned some major reliefs as part of efforts to set the economy on the path of recovery and back to its pre-COVID-19 levels.

The reliefs include opening of the country’s land borders, easing of general COVID-19 restrictions and measures to arrest depreciation of the currency.

Additional reliefs also include measures to tackle the rising fuel prices occasioned by the global economic turmoil brought on by the ongoing Russia-Ukraine conflict, and measures to address the persistent rise in prices of goods and services.

The reliefs were sanctioned at a crunch three-day cabinet retreat that took place over the weekend  at Peduase in the Eastern Region where the President and his cabinet ministers reviewed data on the effects of the COVID-19 on all sectors of the  economy that has led to blowbacks resulting from the ongoing conflict.

Minister for Information, Kojo Oppong Nkrumah, in a tweet last Thursday disclosed that the essence of the retreat was to enable government proffer solutions to ease the burden on Ghanaians.

“In the coming days, details will be announced, including when and how borders will be opened, the removal of some testing protocols, shoring up the currency and further cutting expenditures and detailed steps to be taken on the petroleum  price increase while assuring growth.” the Minister told journalists on the sidelines of the retreat.

It is expected that the President, Finance Minister, Ken Ofori-Atta, and other sector ministers, as well as the Bank of Ghana in the coming days will provide details on the reliefs and affected sectors.

The reliefs are also expected to answer questions posed by economic watchers on how the government will respond to the current global economic challenges.

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