Mid-Year Budget: "Exchange Rate Didn't Help Businesses"

Ahead of the presentation of the 2026 Mid-Year Budget Review, Economist Sampson Anomah has expressed concern about the impact of Ghana's exchange rate on businesses, arguing that the depreciation of the cedi has continued to constrain economic growth. Speaking to ICAD TV, Mr. Anomah said the exchange rate has not created a conducive environment for businesses to expand, particularly in the production and manufacturing sectors. "The exchange rate hasn't helped businesses to grow. It doesn't help the Gross Domestic Product (GDP) growth rate to increase as expected. It slows down production and manufacturing," he said. According to Mr. Anomah, the cedi's performance has contributed to higher operating costs for businesses, particularly those that rely on imported goods and raw materials. He also noted that the weaker cedi has contributed to increases in fuel prices and transportation costs, placing additional pressure on households and businesses. Mr. Anomah urged the government to use the 2026 Mid-Year Budget Review to announce concrete measures aimed at stabilising the cedi and supporting local manufacturing to strengthen the economy. Note: The comments made by Sampson Anomah represent his personal economic assessment and policy recommendations. While exchange rate movements can affect inflation, imports, and business costs, the overall impact on economic growth depends on a range of domestic and international factors. Official assessments of the economy may differ from his views.