The Minister of Finance, Ken Ofori-Atta, has announced the creation of a GH¢100 billion Corona virus Alleviation and Revitalisation of Enterprises Support (CARES) programme to sustain the nation’s economy.
Addressing Parliament on Thursday, July 23, 2020, the Finance Minister described the CARES programme, which is expected to span three and a half years when rolled out, as ground- breaking.
Speaking on the floor of Parliament, he said “the Corona virus Alleviation and Revitalisation of Enterprises Support (CARES) programme allows us to recreate our economy and set it on a course that we yearn for.”
According to Ken Ofori-Atta, when the programme is finally implemented, it shall affect the lives of citizens in all aspects.
Citing some examples, the minister stated that the food Ghanaians eat, to where they live as well as their work environment, would all be impacted by the programme.
CARES programme shall see some investment of GH¢100 billion from the year 2021 to 2023, of which GH¢70 billion will come from the private sector, he read.
The finance minister further said “it [CARES] requires radical reforms in government, particularly in revenue generation and a radical improvement in doing
business for the private sector.”
The ‘Obaatanpa’ CARES programme, per the minister’s review, also adopts a whole-of-government implementation
approach and fosters closer collaboration with the private sector to give a sustainable future
The minister further touted the budget saying that the 2020 Mid-Year Fiscal Policy Review would reorganise the public finances to
protect lives, secure incomes, revitalise businesses.
To him, the budget focuses the nation’s energies on driving the
economy back on track to building a Ghana Beyond Aid.