In order to lessen the severe economic issues that local firms were facing, Alex Frimpong, the Chief Executive Officer of the Ghana Employers' Association, has requested the government to strengthen its financial support for local industry in the 2023 budget.

He claimed that would contribute to increasing local industry capacity, as well as local productivity and income production in the nation.

At a seminar on the 2023 budget statement and economic strategy hosted by the Ghana Employers' Association, Mr. Frimpong made this statement.

According to him, local businesses that are financially well-positioned to grow will produce enough cash for the government to use for national development.

“If we can do that, we will be able to solve over 60 per cent of our economic challenges. This will save us a lot of pressure from the current forex challenges we face,” he added.

Mr Frimpong urged the Government to automate and digitalise its revenue mobilisation process to make it seamless and effective.

He said the government needed to improve its revenue collection and mobilisation, saying, the only way was to effectively digitalise the process.

He also called on government to review the benchmark value policy to cover goods that were not produced locally.

Mr Kenneth Koomson, Deputy Secretary General, Ghana Federation of Labour, said the Government needed to subsidise the high cost of utility, especially fuel.

He cautioned government against the introduction of new taxes or measures that already burdened the ordinary person, urging it to provide tax cuts and exemptions for businesses to thrive.

“Government needs to protect local business through these measures to enable them to survive the current economic turbulence and provide jobs to the teeming youth,” he added.

Mr Koomson said the 2023 budget should be more “realistic” and responsive to the plight of the ordinary Ghanaian.