GUTA urges incoming Finance Minister to prioritise policies of respite

The Ghana Union of Traders Association (GUTA) has asked Dr Mohammed Amin, the incoming Finance Minister, to prioritise implementing policies that will give respite to Ghanaians.

“What we’re expecting is that the change made by the President would necessitate a respite to the business community and the consuming public.” Dr Joseph Obeng, President GUTA said in an interview with the Ghana News Agency.

“For all these years, what we’ve been talking about is for the government to implement policies that would ensure that the cost of doing business in the country is reduced. So, the new Finance Minister should look it this,” he said.

Dr Obeng noted that Ghana’s current economic required intentional policies that would harmonise tax systems, reduce the cost of clearing goods at the port, and production.

Such policy measures, he said should be implemented alongside others that would cause a lower inflation rate, stable currency, and a lower lending rate.

“The government already has its policies; our main concern is how he (the new Finance Minister) drives the policy of state to have a meaningful impact on the people of Ghana,” Dr Obeng said.

He expressed optimism that doing so, would bring “a great sigh of relief to businesses and consumers, and the government will also stand to benefit from the taxes that people pay.”

The call has become necessary as macroeconomic gains form the implementation of a US$3 billion loan programme with the International Monetary Fund (IMF) is yet to reflect in the lives of Ghanaians.

Dr Mohammed Amin Adam, Minister of State at the Finance Ministry, has been nominated as the Finance Minister designate, replacing Mr Ken Ofori-Atta, who has served in that capacity since 2017.

Source: GNA