September 20, 2020

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Think outside the box to resuscitate the economy – Spio-Garbrah – 3NEWS

2 min read

Former Minister of Trade, Ekwow Spio-Garbrah, has said authorities will have to go beyond the ordinary to enable them resuscitate the local economy following the ravages of the Coronavirus pandemic.

He noted that the pandemic has badly affected global economy especially developing countries like Ghana, a situation that requires thinking outside the box to address.

Speaking in an interview with TV3’s Alfred Ocansey, the former Education Minister said “Economy has been diminished and ravaged.

“Ghana is looking at something below 1 per cent GDP growth when we were 7 per cent growth before COVID

“So, we have to take our knocks and still bounce back hard.

“It takes organization, it takes the spirit of capacity to do, and it takes ingenuity, it takes thinking outside of the box, it takes doing things differently, yet not everyone seems to realize it. Our path is really swallowed up in a lot of poor decision making.”

Meanwhile as part of measures to help deal with the impact of the Coronavirus pandemic on the economy, the government has earmarked GHS600million which is being disbursed by the National Board for Small Scale Industries (NBSSI) to support small and medium scale enterprises (SMEs).

The Executive Director of the NBSSI, Kosi Antiwaaa Yankey-Ayeh, has disclosed that GH¢400 million out of the earmarked GH¢600 million Covid-19 stimulus package has been disbursed to SME that applied for the government package.

Speaking on TV3’s New Day Monday, September 14, Ms Yankey-Ayeh said “about GH¢400 million has been pushed”.

She further indicated that “there were micro businesses categorized as the ADOM ranging from 1-2000 applicants”.

“And if we look at that range, about 186,000 have benefited from the ADOM and ANIDASO ranges received GH¢300,000 for the support for the beneficiaries and 15,301 beneficiaries have also received their support.”

By Laud Nartey||Ghana

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