Accra: Some dealers in spare parts, mechanics, and other workers at the Siwido Garage (Kokompe) in Cape Coast have expressed high expectations from the first budget statement of the new administration, hoping for a revived economy with favorable business policies. The budget is expected to be presented to Parliament in Accra on Tuesday, March 11, 2025.
According to Ghana News Agency, when the workers at the garage were visited on Monday, they lamented the debilitating impact of the economic downturn on their businesses and personal lives, calling for an urgent reversal of the situation. Inflation, high exchange rates, and unfriendly taxes were identified as significant challenges, with hopes for a more beneficial business climate.
Mr. Thomas Danquah, a car accessories seller, noted that businesses have been unprecedentedly slow, with customers barely buying anything due to economic hardship. He highlighted the daily price increases, causing affordability issues for customers. Danquah urged the government to reduce the dollar's price to lower item costs and make life easier for all.
He appealed for the introduction of soft loans for businesses and the removal of nuisance taxes to help them meet their tax and rent obligations. "We accept that no government will put money in our pockets, but we expect them to fix the economy so that we can take care of ourselves and our families," he added.
Mr. Isaac Kwesi Bonsu, an auto electrician and dealer in car batteries, echoed his colleagues' concerns, expressing frustration over the incessant inflation impacting business. He appealed to the government to do everything possible to reduce inflation, noting that potential customers often leave without purchasing due to high prices.
Mr. Solomon Mensah, a spare parts dealer, expects a practical remedy for the exchange rate crisis from the Finance Minister's budget presentation. He called for the elimination of unreasonable taxes on spare parts and urged the government to expand the tax net for broader citizen participation, emphasizing the need for transparent expenditure to encourage tax compliance.
Mr. John Kwadwo Afful, a mechanic, expressed concerns about the poor state of roads in the region, which he said contributed to vehicle damage. He urged the government to address road conditions in the budget and fulfill every manifesto promise made to the business community.
Mr. Albert Quansah, another mechanic who supplements his income with sports betting, appealed to the Finance Minister to repeal taxes on betting as promised. With the new administration's overwhelming election victory, the responsibility of fixing the economy and restoring hope is a pressing challenge, as citizens' expectations are high.
