Business News of Wednesday, 1 April 2020Source: thebusiness24online.netGrim outlook as economy reels from shocksKen Ofori-Atta, Finance MinisterFinance Minister Ken Ofori-Atta has painted a gloomy outlook for the Ghanaian economy, as the coronavirus pandemic wreaks havoc across both core and non-core sectors. “Preliminary analysis of the macro-fiscal impact of the pandemic shows that there is likely to be a significant slowdown in our GDP growth. The real GDP growth rate could decline from 6.8 per cent to 2.6 per cent with an outbreak and 1.5 per cent with a partial lockdown. The total estimated fiscal impact of the pandemic is GH?9.5 billion, which represents 2.5 percent of revised GDP. The United Nations Economic Commission for Africa (UNECA), meanwhile, sees Africa’s GDP growth dropping by 1.2 percentage points from 3.2 percent to 2 percent as a result of the pandemic.

Source: GhanaWeb April 01, 2020 13:30 UTC