Development of vaccines gives hope that economies can resume fully - Kyei-Mensah-Bonsu

Majority Leader, Osei Kyei-Mensah-Bonsu, says with the development of vaccines for the coronavirus across the world, there is hope that the economies of the world will pick up soon.

He explained that the government expects a sharp recovery from the unexpected dip it experienced in the economy last year due to the coronavirus although not immediately.

"Mr. Speaker, we expect a sharp recovery from the output slump of 2020, largely attributable to the COVID-19 pandemic. Interventions anticipated under GhanaCARES, Government’s blueprint for modernization and transformation, together with an expected roll-out of COVID-19 vaccines, lend justification to this optimistic outlook," he said.

Reading the 2021 financial budget in Parliament, he explained that with the interventions that have been made from the development of vaccines for the pandemic, there is hope.

However, he expressed fears that the unavailability of the vaccines to all places, poses some threats to the plan of the government in shoring up the economy.

"Significant investments as well as coordinated and dedicated efforts have

resulted in the comforting news of vaccines and new treatments for COVID-19

which may be a game changer in the battle. However, we are not out of the woods yet given that the vaccines are unlikely to be available everywhere soon, and the fact that the economic impact will persist for some time,"

Osei Kyei-Mensah-Bonsu represented Ken Ofori-Atta in reading the budget because the latter is out of the country on health grounds.

The budget was on the theme, "Economic Revitalisation through Completion,

Consolidation & Continuity", also known as the “WƆN YA WƆ HIƐƐ BUDGET”!