21st November 2022 10:36:56 AM
1 min readAccording 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.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.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.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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