President John Dramani Mahama has reiterated his government’s commitment to upholding fiscal discipline while calling on businesses to support economic recovery efforts by reducing prices of goods and services to reflect the cedi’s appreciation.
Speaking at the 9th Ghana CEO Summit and Awards Expo, President Mahama praised companies and organisations that have already adjusted prices in response to the cedi’s recent gains, highlighting efforts by the Ghana Private Road Transport Union (GPRTU) for their proactive steps.
“GPRTU, thank you very much,” he said. “And so, those of you who haven’t responded yet, please pass on some of the cedi appreciation to Ghanaians,” he said.
“On the government’s part, I want to assure you that we will maintain the current fiscal discipline and work to maintain a conducive environment for your businesses to thrive,” the President assured.
“Let me take the opportunity to commend those of you who have responded to the cedi’s appreciation by reducing prices of your products and services and thereby passing some of the relief from the hardship to Ghanaians.”
[embedded content]The president’s remarks come amid signs of economic stabilisation, with the local currency, the cedi, recording steady appreciation against major trading currencies over the past weeks.
Mr Mahama was particularly effusive in his appreciation for the GPRTU, whose decision to reduce transport fares was seen as a timely and impactful response to easing the burden on the commuting public.
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