Ghana

West Africa’s economic output has been limited by the rising cost of goods and services, leading to an increase in interest rates as monetary authorities attempt to rein in inflation.

The worsening economic conditions erodes the purchasing power of consumers while deteriorating standard of living and also increasing cost of doing business in the sub-region.

The comprehensive programme is backed by a substantial GHS 8.2 billion funding package and aims to support small and medium-sized enterprises (SMEs), which are pivotal to the nation’s economic prosperity.

Moody’s assesses Ghana’s economic strength at ‘ba2’, balancing the country’s growth potential in the oil and non-oil sectors against its small size and low wealth levels.

GUTA therefore appealed to the government to urgently halt the implementation of the 5 per cent excise tax on plastic manufacturing companies to alleviate economic hardship in the country.

The government through the Finance Ministry has underscored the importance of maintaining economic stability and pursuing sustainable growth amid the upcoming political season.

Despite the pending request, the Ghana Revenue Authority (GRA) has begun issuing demand notices to plastic manufacturers, compelling them to comply with the new tax from June 21, 2024, or …

“The World Bank Group’s support aims to help address short-term shocks to improve prospects for long-term sustainable development and long-term resilience against future shocks.

They believe it ‘could be the game-changer’ and asked to know a lot more about this ‘great idea’.