The Ghana Union of Traders Association (GUTA) Calls on New Finance Minister to Prioritize Relief Policies

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The Ghana Union of Traders Association (GUTA) has called on Dr. Mohammed Amin, the incoming Finance Minister, to prioritize policies aimed at providing relief to Ghanaians amidst economic challenges.

In an interview with the Ghana News Agency, Dr. Joseph Obeng, President of GUTA, emphasized the need for policies that would reduce the burden on businesses and consumers. He stressed the importance of implementing measures to lower the cost of doing business, streamline tax systems, and reduce expenses related to clearing goods at ports and production.

Dr. Obeng highlighted the significance of policies aimed at achieving a lower inflation rate, maintaining currency stability, and reducing lending rates. He urged the new Finance Minister to effectively drive state policies to have a meaningful impact on the lives of Ghanaians.

Despite the implementation of a US$3 billion loan program with the International Monetary Fund (IMF), the expected macroeconomic gains have yet to materialize for ordinary citizens. Dr. Mohammed Amin Adam, the Minister of State at the Finance Ministry and the nominee for Finance Minister, is set to replace Mr. Ken Ofori-Atta, who has held the position since 2017.

GUTA’s call underscores the urgency of addressing economic challenges and implementing policies that will alleviate the financial strain on businesses and consumers, ultimately benefiting the government through increased tax revenue. As Ghana navigates its economic landscape, effective policy implementation is crucial for sustainable growth and prosperity.