• Manufacturing sector declined by 14.3% in 2020
• COVID-19 has impacted various business operations
Managing Director of GB Foods, David Afflu has called on the finance minister to spell out policies seeking to stabilise the economy especially in the manufacturing sectors for economic growth.
According to him, these policies when introduced, will ensure price stability among manufactured products and boost production.
In an interaction with Citi Business News, David Afflu said “We know how COVID-19 has ravaged this economy so we want to see policies which will ensure that this economy remains robust and stable. From the macroeconomic environment, inflation, taxes, our currency, duties and all of that.
He continued, “Relative to our realities in this country today, we’d expect the budget presentation to reflect that reality and as players, we’ll continue to do our business and provide our products at an affordable price to the consumers while making a little money for our shareholders.”
As a result of the impact of the coronavirus pandemic, Ghana’s manufacturing sector, according to the Ghana Statistical Service, recorded a decline of 14.3% in the second quarter of 2020.
Meanwhile, Minister for Finance and Economic Planning is expected to deliver the 2022 budget statement of government before Parliament on November 17, 2021.
Various stakeholders, economists and market watchers expect the finance minister to address an array of issues especially with regard to the economy.
They expect the issue of Ghana’s debt sustainability, rising unemployment rate, government’s revenue generation and expenditure, among others to be addressed.
The presentation of the budget is in accordance with Article 179 of the 1992 Constitution and section 21 of the Public Financial Management Act, 2016 (Act 921).
Finance Minister, Ken Ofori-Atta