GNCCI

27 Jul

Policy Rate Hike Will Not Tame Inflation; Industry Will Rather Suffer – GNCCI

Wontumi1BusinessGNCCI, Mark Badu-Aboadgye, policy rate

The Ghana National Chamber of Commerce and Industry is challenging claims by the Bank of Ghana that the hike in the policy rate is to control inflation and liquidity in the system. According to the Chamber, the method adopted by the regulator to tame down inflation is not effective as inflation rather keeps increasing. It contend the 30% policy rate will complicate the current challenges facing the industry and result in further shut down of businesses. Speaking to Joy Business, Chief Executive Officer of the GNCCI, Mark Badu-Aboadgye, maintained, if the government continues to impose taxes, controlling inflation will be…

05 Jul

Urgently Work With BoG To Address High Inflation; Expand Tax Net Instead Of Introducing New Ones – GNCCI To Government

Wontumi1Business2023 Mid-Year Budget Review., BoG, GNCCI, inflation, Tax net

The Ghana National Chamber of Commerce and Industry (GNCCI) is calling on the government to urgently work with the Bank of Ghana to find innovative ways of addressing the high inflation in the economy. This is part of its propositions for government to consider in the 2023 Mid-Year Budget Review. According to the Chamber, addressing the high inflation will help businesses to secure funds for expansion and recovery from the impact of COVID-19. The continuous increases in the policy rate and in effect lending rate, the Chamber said, are adversely affecting key productive sectors as well as the overall growth…