• About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • ChannelOne TV
  • Infographics
Tuesday, July 15, 2025
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Opinion
  • Listen To CitiFM
  • Watch ChannelOneTV
  • Videos
  • Citi Verify
  • Elections
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Opinion
  • Listen To CitiFM
  • Watch ChannelOneTV
  • Videos
  • Citi Verify
  • Elections
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
No Result
View All Result

COVID-19: Inject GHS18b into economy to mitigate losses – TUC to government

Daniel AnababyDaniel Anaba
May 14, 2020
Reading Time: 2 mins read
ShareShareShareShare

The Trades Union Congress (TUC) is asking the government to inject about GHS 18 billion into the various sectors of the economy to help mitigate the losses associated with the COVID–19 pandemic.

According to the TUC, research by its Labour Research and Policy Institute showed the devastating effects of the COVID-19 health crisis on jobs and livelihoods in both the formal and informal segments of the economy.

Speaking to Citi News, Director of Labour Research and Policy Institute of the TUC, Dr. Kwabena Nyarko Otoo, said the government needs to do more to revive the economy and also manage the potential job losses.

“One of the things we did was to estimate the loss of GDP that we are likely to experience because of COVID-19 and our estimation is based on the data provided by the Minister for Finance when he told Parliament that the 2020 GDP growth which was initially estimated at 6.6% will now be 1.5%.”

“When we look at the numbers we are looking at an output loss of about GHs 18 billion and our proposal is for government to find the resources that will fully restore us in terms of the output loss so we are asking government to invest about GHs 18 billion into the economy between now and December.”

Dr. Kwabena Nyarko Otoo added that the TUC recognises that the government finds itself in a difficult situation due to the impact of the COVID-19 on the economy.

However, he said, the government can either print more money or borrow from the Ghana Heritage Fund (GHF) to support the economy at this moment.

He added: “We went to borrow from the IMF with all the conditionality. If we were able to borrow from the IMF, it should be safer to ask government to borrow from the future. So that we replenish that fund when the COVID-19 storm is over.”

Tags: Economic impact of COVID-19Ghana NewsHeritage FundTrades Union CongressTUC
Share384TweetSendSend
Previous Post

W/R: 36 persons stopped from crossing Ghana-Ivory Coast border illegally

Next Post

COVID-19: Savannah Development Policy think tank commends government for resourcing NCCE

Related Posts

Education

Parliament to pass National Scholarship Authority Bill this week – Nortsu-Kotoe

July 15, 2025
Featured

Ablekuma North: Interdiction of Police officer inappropriate – Adomako Kissi

July 15, 2025
Business

James Agalga chairs new GACL Board; pledges support for aviation hub vision

July 15, 2025
Featured

Mahama scraps fuel allowances for appointees

July 15, 2025
Featured

Chiefs demand inclusion in allocation of lands for extractive activities

July 15, 2025
Featured

Madina: Two suspects arrested for defiling 14-year-old girl

July 15, 2025
Next Post

COVID-19: Savannah Development Policy think tank commends government for resourcing NCCE

ADVERTISEMENT
Citinewsroom - Comprehensive News in Ghana

CitiNewsroom.com is Ghana's leading news website that delivers high quality innovative, alternative news that challenges the status quo.

Archives

Download App

Download

Download

  • About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • ChannelOne TV
  • Infographics

© 2024 All Rights Reserved Citi Newsroom.

No Result
View All Result
  • Home
  • News
  • Business
  • Sports
  • Opinion
  • Listen To CitiFM
  • Watch ChannelOneTV
  • Videos
  • Citi Verify
  • Elections

© 2024 All Rights Reserved Citi Newsroom.