The President of the Association of Ghana Industries, (AGI) Dr. Humphrey Ayim-Darke has indicated that Ghana’s 17th International Monetary Fund programme has helped reduce the negative impact of the country’s macroeconomic condition on businesses but urges government to do more to support entrepreneurs.  

Dr. Ayim-Darke argued that government still needs to address some structural rigidities to help businesses navigate the difficult macroeconomic conditions.

Speaking as part of the Joy Business Pre-Budget Forum on Joy News, Dr. Ayim-Darke mentioned that the country’s current macroeconomic conditions has negatively affected businesses and has placed a hold on growth and job creation, while paving the way for the importation of finished goods into the country.

He furthered that this singular act has reduced production by many businesses in the country and this are critical issues that government must tackle in the mid-year budget next week.

“Our businesses have been stressed within the context of the macroeconomic conditions, it led to low growth but by virtue of the IMF transaction, it restored some confidence and we look forward to other indications that are work in progress”.

“Nonetheless, we still believe there are structural rigidities that need to be tackled and those are the engagements we seek to see the finance Minister table in the Mid-Year budget to aid us navigate this difficult macroeconomic factors that we face”, he added.

Many businesses in the country have been lamenting the high cost of doing business in the country and have been calling on government to scrap off some taxes to cushion the sector.