Business-Friendly Budget Key to Economic Stability – GUTA Urges President Mahama Ahead of SONA
The Ghana Union of Traders Association (GUTA) has called on President John Dramani Mahama to prioritize a business-friendly budget in his upcoming State of the Nation Address (SONA), emphasizing its crucial role in stabilizing the country’s economy.
As Ghana continues to navigate economic challenges, GUTA argues that policies supporting local businesses, reducing tax burdens, and ensuring a predictable regulatory environment will foster growth, attract investment, and create employment opportunities. The association asserts that a stable economic climate hinges on policies that empower the private sector.
Speaking ahead of the SONA, GUTA President Dr. Joseph Obeng reiterated the need for government intervention in areas such as import duties, foreign exchange stability, and access to affordable credit. He noted that Ghana’s business community faces mounting pressure from rising operational costs, currency depreciation, and regulatory inconsistencies.
“We urge President Mahama to present a budget that prioritizes local businesses and ensures sustainability. High import duties and unpredictable forex rates are crippling our enterprises. If the government provides tax relief and streamlines trade policies, it will boost investor confidence and economic stability,” Dr. Obeng stated.
The business community has also called for measures to support small and medium enterprises (SMEs), which serve as the backbone of the Ghanaian economy. GUTA insists that reducing bureaucracy, improving infrastructure, and addressing bottlenecks in trade facilitation will enhance economic resilience.
Economic analysts believe that President Mahama’s address will be pivotal in setting the tone for Ghana’s fiscal direction. With concerns over inflation, revenue generation, and public sector expenditure, many expect the government to outline concrete steps to balance economic growth with social welfare initiatives.
As stakeholders await the SONA, GUTA’s plea highlights the private sector’s expectations for policies that promote stability, encourage local production, and create a conducive business environment.
The President’s address is scheduled for later this week, and businesses across the country will be closely watching for key policy pronouncements that will shape Ghana’s economic trajectory.
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