The business community in the Ashanti Region has expressed optimism following the presentation of the mid-year budget by Finance Minister, Dr. Cassiel Ato Forson, last Thursday.
The presentation, which outlined key economic relief measures, has sparked positive reactions among local businesses, especially with the government’s plan to reduce inflation to approximately 11.9 percent by the end of the year.
Among the initiatives announced were the abolishment of the COVID-19 levy, a reduction in the VAT rate, and a commitment to sustain the appreciation of the Ghana cedi—measures that many believe could ease the burden on businesses and stimulate growth.
Industry players say these steps are encouraging and could offer a renewed sense of stability for the private sector in the region.
Mid-Year Budget Measures Bring Relief to Ashanti Businesses
Stephen Acheampong, Immediate Past Ashanti Regional Chairman of the Ghana National Chamber of Commerce and Industry, welcomed the removal of the COVID-19 levy, describing it as long overdue.
“The Covid -19 is no more, so why do we still have to tax the people, that is going to put pressure on businesses, so I think is a good idea to abolish the tax, because is not going to help anybody anymore,” he said.
He emphasized that reducing unnecessary taxes will lessen the pressure on entrepreneurs and help businesses recover from the economic challenges they have faced in recent years.
