I recommend that economic stimulus is given to SMEs and struggling businesses to enable them to stay afloat. This stimulus should come in the form of a reduction in interest rates and cost of borrowing, tax holidays, and tax cuts
While this is welcomed, the government shouldn’t just rely on begging, but should do well to abandon its proposed $29billion dollar loan, cut its excessive unnecessary expenditure, and maintain its debt servicing, this way the economy wouldn’t be overburdened by debt as it tries to recover from this crisis.
For the oil and gas sector, it is expedient to lift off the economic burden on the sector. The government needs to cut down recurrent expenditures which accounts for about 70% of the budget and which is largely funded by oil sales