Accra: The Ghana Union of Traders' Associations (GUTA) has expressed disappointment over the 2026 Mid-Year Budget Review, arguing that the government addressed only one of the four key expectations it presented ahead of the Finance Minister's presentation.
According to Ghana Web, GUTA's President, Clement Boateng, stated that the association had anticipated announcements regarding the rationalization of the import duty regime, support for traders under the government's 24-hour economy programme, the removal of the 20 percent excise duty on locally manufactured fruit juices, and the operationalization of the Women's Development Bank.
Boateng noted that among these expectations, only the Women's Development Bank was addressed. He welcomed the Finance Minister's indication that the bank is expected to become operational by the end of the year but emphasized that traders were seeking more substantial interventions.
He elaborated that GUTA had engaged with the Office of the 24-Hour Economy and submitted proposals seeking financial assistance to help traders transition from retail to manufacturing. "We don't want to remain at the buying and selling. We want to enter into the manufacturing sector but we cannot do it on our own," he said.
Clement Boateng further critiqued the budget review for lacking specific measures to lower the cost of doing business. He highlighted that abolishing the 20 percent excise duty on locally manufactured fruit juices would enhance the competitiveness of local producers. "Because of that excise duty that was put on the local manufacturers' fruit juices, it was making them uncompetitive," he mentioned.
He urged the government to reconsider the current import duty regime to offer relief to traders and consumers. "It's about time that we also look at rationalizing the whole duty regime so that importers and, for that matter, traders can also have a little bit of relief," he added.
The Finance Minister reiterated the government's commitment to supporting private sector growth, although GUTA maintains that the review fell short of addressing key concerns affecting traders, particularly on import duties, business costs, and support for the 24-hour economy programme.