Vice President of the Ghana Union of Traders Association (GUTA), Joseph Paddy, has called for sustained exchange rate stability, stressing that predictability in the currency market is crucial for business planning and national revenue growth.
Speaking on Channel One TV’s Quarterly Economic Outlook on Monday, April 27, he said recent stability in the exchange rate has enabled traders to make reliable projections for their import and clearing activities at the ports.
According to him, the ability to forecast costs ahead of time has significantly reduced uncertainty in business operations, allowing traders to plan effectively for the coming months.
“And even with our imported goods, we can do projections that when I go to the port to clear my goods, there is a certain rate I can use, so I don’t need to worry myself,” he stated.
He cautioned that the absence of predictability in the business environment often leads to failure, emphasising that stable economic indicators are essential for sustainable commercial activity.
“As a businessman, if you can’t do projection in your business, you fail,” Mr Paddy noted.
However, Mr Paddy stressed that sustaining these gains remains the key concern for the business community, urging the government to put in place measures that will preserve recent economic improvements while driving further growth.
“What is the government doing to sustain these gains and also achieve further gains? That is what the business community is looking forward to,” he said.
