Ghana Chamber of Commerce calls for stabilization of economy

The Ghana National Chamber of Commerce and Industry (GNCCI) has proposed to government to consider urgent measures that will ensure macroeconomic stability.

This is expected to be presented to government and forms part of the input into the formulation of the 2009 budget and policy statement of the country.

Government’s economic team is seriously putting together the 2009 budget statement which will be presented to parliament by February.

Mr. Wilson Atta Krofah, President of the GNCCI, speaking with B&FT explained that containing inflation within a single digit range, a stable cedi exchange and interest rate below a single digit per annum will result in an accelerated growth of the economy and a vibrant private sector growth.

The country’s end of year inflation rate stood at 18.13 percent.

Mr. Krofah also suggested that government must focus on the agricultural sector providing financial and technical assistance to achieve food security and increase employment generation.

“This is because small scale farmers continue to dominate the country’s agricultural sector and could therefore bring the desired increase in food production and its subsequent security with a careful and systematic programme to offer them such assistance,” he remarked.

Source: B&FT