President Nana Addo Dankwa Akufo-Addo met with the Ghana National Chamber of Commerce and Industry (GNCCI) to discuss the current economic crisis and how best to scale down the bottlenecks affecting businesses and the plight of ordinary Ghanaians.
The GNCCI highlighted some concerns including the cost of doing business in the country which is rising due to the rapid depreciation of the cedi against major foreign currencies, interest rates and high fuel prices.
More specifically, the outlook for the country’s economy which is getting worse due to rising public debt, weak domestic revenue performance, the balance of payments issues and a lack of fiscal restraint, which led to a credit rating downgrade.
According to the President of the Chamber, Mr Clement Osei-Amoako, the situation is causing low confidence and speculative activity which are harmful to the resilience and growth of businesses.
Source: Mybrytnewsroom.com/Kwabena Nyarko Abronoma
