According to a 2023 pre-budget study by the auditing and accounting company KPMG, more than 64.3% of business executives want the government to give domestic and international debt restructuring top priority.

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This is intended to reduce the danger of credit default among debt holders, the poll claims, even as the government enlists the IMF for a program of economic assistance.

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Other survey respondents think the government should restructure its international debt because of its exposure to foreign exchange.

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According to the poll, the cedi has underperformed against major foreign currencies over the past few years.

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In terms of support to Micro Small and Medium Enterprises, the survey noted that approximately 80% of industry leaders believe government has done a poor job in ensuring enterprises gain access to financial services.

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They also noted low-cost financing and integration into value chains and market as reasons for the poor performance of government to ensure MSMEs remain sustainable and supported.

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Touching on whether some government initiatives have met the required expectations, the KPMG survey said 85.7% of respondents described the Planting for Food and Jobs programmes as a failure as they believe it is not meet the expectations of business leaders.

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Meanwhile, on the controversial Electronic Transfer Levy, the KMPG survey noted, “during these difficult times, more than half of business leaders believe electronic levy (E-Levy) is a major source of concern” and want the tax measure to be reviewed.

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