The Ghana Union of Traders Association (GUTA) has called on the government to facilitate and ensure that the economic stability gained in 2023 is made robust in 2024.
Speaking on behalf of the association in an exclusive interview with the Ghana News Agency, Joseph Obeng, the president of GUTA said, a sustained growth in economic stability would make businesses more buoyant and create more job avenues to employ more youth, which would ultimately bring relief to Ghanaians.
The president believes that once there is economic stability, traders and service providers would pass on gains to consumers by making cost of goods and services relatively affordable and stable.
“The 26.4% inflation rate for November 2023 should not only be maintained, but improved, and the stability of the local currency sustained, when that happens, businesses will recover speedily from the losses from the previous years, then we’ll boom and transfer the gains through the pricing we make, then the consumer can also have some respite,” he explained.
He praised the government for creating an enabling environment for businesses especially in the last quarter of the year 2023.
He said, “because 2023 was comparatively good, as the currency was fairly stabilised and inflation reduced.”
Dr Obeng also urged the government to increase efforts in getting the second tranche of US$600 million from the International Monetary Fund (IMF) to support the stability process.
“We’re hoping that the second tranche of the IMF money will also come through to sustain the stability,” the GUTA President said.
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The Ghana Union of Traders Association (GUTA)