Tax relief, falling interest rates ease business costs – GNCCI CEO
Tax relief and falling interest rates are easing production costs, but businesses still face pressure, the Chief Executive Officer of the Ghana National Chamber of Commerce and Industry (GNCCI) said.
The Ghana National Chamber of Commerce and Industry (GNCCI) chief executive, Mark Badu-Aboagye, stated that tax relief and falling interest rates are easing production costs for businesses. However, Mr Badu-Aboagye acknowledged that businesses still face pressure. He described the 2026 budget as largely business-friendly and pointed to lower borrowing costs as another source of relief.
The improvement in inflation is partly attributed to restraint in business pricing, as businesses have not been increasing prices excessively. The national average inflation rate stands at 5.5 per cent, although some regions experienced inflation above this figure. While the exchange rate and production costs have contributed to the stable inflation conditions, Mr Badu-Aboagye cautioned that the gains do not mean businesses have overcome their difficulties.
Inflation for locally manufactured goods has increased, indicating that domestic producers are still facing challenges. Further tariff relief, alongside tax measures, could lower the cost of locally manufactured goods and reduce inflation.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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