The Ghana Union of Traders’ Associations (GUTA) has praised managers of the economy for their efforts at bringing down inflation and exchange rates. GUTA is pushing for further improvement in the doing business environment.
In a press statement issued hours after the announcement of the March inflation (45%) GUTA President, Dr Joseph Obeng said, “we urge government to continue with the efforts, and take advantage of the reduction of the exchange rate to further reduce inflation and other costs of doing business in the country. “
Dr Obeng called on government to improve further the economic environment by sustaining the appreciation of the cedi against the dollar, adjusting customs valuation rate to reflect the current trend of the exchange rate
The GUTA Boss urged the Bank of Ghana to drastically reduce the monetary policy rate and give meaning to the gains made so far, while giving welcome respite to the business community.
Dr Obeng entreated all members of the business community to respond positively to the changing trend and adjust prices to reflect the exchange rate.
“We are very appreciative of the Government’s efforts, and hope that it will bring relief to businesses and lead to the economic transformation we all cherish and desire as a nation,” he concluded.