Vice president Bawamia says that the present economic status is a result of the negative effects of COVID-19. Speaking during the 5th edition of the Ghana CEO Summit in Accra yesterday he said, “In 2020, the Covid-19 pandemic ravaged the world and severely affected all aspects of our lives. The pandemic undoubtedly affected business and economies globally, leading to immeasurable losses in various sectors.”
According to Dr. Bawamia the key drivers of the economic growth have suffered as a result of Coronavirus. “Business slowed down and disruptions in global supply chains and trade threatened financial markets and the financial system as a whole. The reverse multiplier effects and the imperatives to save lives put public finances at risk,” the vice president said.
He said that many businesses have been closed down, while others are receiving little profit. The vice president insisted that we living in uncertain times and moving in uncertain directions.