Business & Finance

Mid-Year Budget Review: The Budget Favours Gov’t not Us – GUTA

The Public Relations officer for Ghana Union of Traders’ Association (GUTA), Mr Albert Offei Mensah,  has voiced its disappointment with the recent budget review, stating that it primarily serves the government’s interests rather than addressing the concerns of their association.

In an interview on Opemsuo Radio’s Nkwantannanso with George Adjei on July 31, he revealed that a meeting was held with Finance Minister Ken Ofori Atta prior to the budget review, but their inputs were not considered due to the absence of new tax introductions.

“Our suggestions were dismissed on grounds that this was only a review without any new taxes being introduced. The meeting with him felt more like a Parent-Teacher Association gathering, where decisions were made without much consideration for our concerns,” he said.

He further expressed that there are still lingering challenges with the existing tax structure that continue to negatively impact businesses.

“We still pay COVID-19 tax  and E-levy and these are still affecting businesses.”

On Monday, July 31, the Finance Minister, Ken Ofori-Atta, addressed Parliament with the highly anticipated Mid-Year Budget Review.

During his presentation, he highlighted the government’s efforts in steering the economy towards a path of recovery, following the challenging economic conditions experienced in 2022.

“We have made significant progress on restoring macroeconomic stability and the narrative is changing. The economy is showing signs of recovery,” he said.


Story by Adwoa S. Danso

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