The business community is gearing up to submit proposals for the 2026 budget to the Ministry of Finance ahead of the August 29, 2025, deadline.
The Ghana Union of Traders Association (GUTA) says it will push for a further reduction in commercial lending rates and tax rates to ease the cost of doing business.
The Finance Ministry is inviting contributions from business associations, professional bodies, financial institutions, civil society organisations, faith-based groups, and the general public to shape the 2026–2029 Budget Statement and Economic Policy. According to the Ministry, past submissions have significantly influenced national budgets.
With the government targeting November 15 for the budget presentation, GUTA believes additional cuts in lending rates are crucial. Public Relations Officer Joseph Paddy noted that while inflation and the policy rate have dropped, interest rates remain high.
“We’ve seen the policy rate dropping. We’ve seen inflation dropping, but we’re still not seeing this growth reflected in interest rates, which keeps the cost of doing business high. We propose that regulators set a clear margin between the policy rate and interest rates — say, not more than 5% or 6%. We also want to see port charges reviewed, as these make it difficult for businesses to comply with the tax regime,” he said.
The Greater Accra Regional Chairman of the Association of Ghana Industries (AGI), Tsonam Akpeloo, says it will propose clearly defined incentives under the government’s 24-hour economy policy.
“We would like to see details on financing and incentives for the 24-hour economy programme — specific tax rebates, holidays, and financial support, including access to affordable financing,” he said.
Source:radiotamaleonline.com
