GHS600m stimulus not enough – Jackson
The GHS600 million stimulus package announced by the government to support small- and medium-scale enterprises (SMEs) is woefully inadequate as far as helping them deal with the impact of the coronavirus pandemic is concerned, Mr Joe Jackson, Chief Operating Officer of Dalex Finance has said.
He told Benjamin Akakpo on Class91.3FM’s Executive Breakfast Show on Thursday, 23 July 2020 that this may be a good attempt at alleviating the suffering of the SMEs in the wake of the pandemic, but noted that the amount involved is not enough.
“I have said that it may be water out of stone but it is not enough,” he said.
He further noted that the real economic impact of the coronavirus pandemic will be felt in September this year.
The coronavirus first entered Ghana in March this year.
Since then, all sectors of the economy have been touched negatively, a situation that forced the government to announce a stimulus package to assist small- and medium-scale enterprises (SMEs).
Jobs have also been lost, especially in the aviation and the hospitality sectors of the economy.
Speaking on the Executive Breakfast Show on Class 91.3FM on Thursday, 23 July 2020, Mr Jackson said the real impact will be felt in September.
“From September, you will start to see the real effect of the job losses, these value chains that have disappeared.”
He noted also that in spite of the impact of the virus, the informal sector still remains vibrant.
“The key positive is that there is still a remarkable amount of residence in the informal sector and that should be harnessed,” he said.
Source: ClassFMonline.com
Trending News
KTU power cut: You're not our boss - ECG workers demand apology from Ashanti minister for causing GM's arrest
19:43Conditions of service: We're disappointed – Pre-tertiary unions to gov't
10:37No interference: I’ll let EOCO, OSP deal with my corrupt appointees – Mahama
03:19Curfew imposed on Sampa amid chieftaincy dispute
19:29Akufo-Addo launches NSS policy document
07:23OSP says Scholarship Secretariat rot probe been ongoing since July 2023
02:48New train crashes on test run
20:357-11pm dumsor attributed by ECG to overloaded transformers false – PURC
06:21Mahama is not ready to be president, vote for Bawumia – Nana Kay
02:02Bawumia visits Madina market Friday
15:23