Grapevine

By My Joy Online
Jul 24, 2024

Economic gains not felt by businesses despite positive indicators

The President of the Ghana Hotels Association Dr. Edward Ackah-Nyamike Jnr has said government is scoring positive points with some economic indicators like inflation, but it does not translate into gains for businesses.

He told Evans Mensah on Joy News’ PM Express that the reality on the ground is that the economic environment is eroding the profit of businesses.

He said despite the sustainability the Finance Minister spoke about during his presentation of the Mid-year budget review in Parliament on Tuesday, “there is a mismatch between what is happening on the macro level and the ground.”

“Even when you try to get those macro figures right, we are still dealing with variables like the exchange rate because a lot of our hotels import several kinds of stuff as they are not available here.