Impact of COVID-19 on projected budget balance in Ghana 2020-2021
Before the coronavirus pandemic in Ghana, the country's projected budget balance was expected to stand at minus 3.4 percent and minus 3.3 percent in 2020 and 2021, respectively. However, under a baseline scenario, where the pandemic is assumed to subside in July 2020 and 2021, the country's budget deficit in both years was estimated at minus 6.8 percent and minus 5.6 percent, respectively. Furthermore, under a worst-case scenario of COVID-19, deflation was expected in 2020 at minus 7.3 percent and in 2021 at minus 6.3 percent.
