We Need a Stable Cedi, Not New Promises – GUTA President

The President of the Ghana Union of Traders’ Associations (GUTA), Dr Joseph Obeng has said the association’s primary concern is the stability of the local currency.

He urged the government to sustain the economic gains as it is crucial for the business community.

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Dr Obeng mentioned that GUTA has contributed to small and medium-sized enterprises’ (SMEs) growth and offered opportunities by providing funds as a mitigation factor.

He said these funds, when directed to targeted areas, have a positive impact on the economy.

Read also: Mid-year Budget: Economy surges with 4.7% growth in Q1 of 2024 – Finance Minister
In his mid-year budget review presentation to Parliament on July 23, the Finance Minister reported that the economy is showing robust recovery, with a 4.7% growth in the first quarter of 2024.

Dr Adam attributed this positive performance to effective policy measures, robust economic management, and the unwavering spirit of the Ghanaian people.

Speaking on JoyNews’ AM show, the GUTA President said, “We think that overall, if we look at most of the figures, even with the debt restructuring and all that, we have come this far, and it can be said that it is inspiring some hope and confidence into the system.”.

The GUTA president noted that the government must make every effort to sustain this growth, strengthen the local currency, and reduce inflation further, so that businesses can thrive again.